Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_5:p4
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 4/6)
Character Range: 80589–83229

entity's assessable income because at the time you could not deduct the amount. At a later time you discover that you could deduct the amount and your assessment is amended. The Commissioner can amend the entity's assessment so that the amount is included in the entity's assessable income.

26-40  Maintaining your family

  You cannot deduct under this Act expenditure you incur for maintaining:
 (a) your *spouse (except a spouse permanently living separately and apart from you); or
 (b) your *child who is under 16 years.

Example: A farmer cannot deduct an amount for food or lodgings that the farmer provides to his or her child who is under 16 years for the work the child performs on the farm.

26-45  Recreational club expenses

 (1) You cannot deduct under this Act a loss or outgoing to the extent you incur it to obtain or maintain:
 (a) membership of a *recreational club; or
 (b) rights to enjoy (otherwise than as a *member) facilities provided by a *recreational club for the use or benefit of its *members;
whether for yourself or someone else.

Meaning of recreational club

 (2) A recreational club is a company that was established or is carried on mainly to provide facilities, for the use or benefit of its *members, for drinking, dining, *recreation or entertainment.

Exception when you provide a fringe benefit

 (3) Subsection (1) does not stop you deducting expenditure you incur in *providing a *fringe benefit.

26-50  Expenses for a leisure facility or boat

 (1) You cannot deduct under this Act a loss or outgoing to the extent you incur it:
 (a) to acquire ownership of a *leisure facility or boat; or
 (b) to retain ownership of a *leisure facility or boat; or
 (c) to acquire rights to use a *leisure facility or boat; or
 (d) to retain rights to use a *leisure facility or boat; or
 (e) to use, operate, maintain or repair a *leisure facility or boat; or
 (f) in relation to any obligation associated with your ownership of a *leisure facility or boat; or
 (g) in relation to any obligation associated with your rights to use a *leisure facility or boat.
However, there are exceptions (see subsections (3), (4), (5), (6) and (8)).

What is a leisure facility?

 (2) A leisure facility is land, a building, or part of a building or other structure, that is used (or held for use) for holidays or *recreation.

Exception—leisure facilities

 (3) Subsection (1) does not stop you deducting a loss or outgoing for a *leisure facility if at all times in the income year:
 (a) you hold the leisure facility for sale in the ordinary course of your business of selling leisure facilities; or
 (b) you use