Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p53
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 135168–138116

in relation to the individual.

Schedule 8
Note: the reference to Schedule 8 is not part of the instrument in Schedule 8.

Veterans' Entitlements (Attribution of Income — Ineligible Deductions) Determination 2001

Instrument 2014 No. R70

Contents

Page
Part 1 Preliminary

 1Name of Determination

 2Commencement

 3Definitions

Part 2 Ineligible deductions and ineligible parts of deductions

Division 2.1 Ineligible deductions
 4Ineligible deductions — ITAA 1936 and ITAA 1997

Division 2.2 Ineligible parts of deductions
 5Ineligible part of certain superannuation contributions

 6Ineligible part of amount of salary or wages

 7Ineligible part of amount of interest on borrowings

 8Trading stock of business — election under s 70-45 of ITAA 1997

 9Trading stock of primary production enterprise — election under s 70-45 of ITAA 1997

 10Trading stock of business — election under s 70-50 of ITAA 1997

 11Trading stock of primary production enterprise — election under s 70-50 of ITAA 1997

Schedule 1 Ineligible deductions for section 52ZZO of the Act
Part 1 Ineligible deductions: ITAA 1936
Part 2 Ineligible deductions: ITAA 1997

Schedule 2 Ineligible deductions for section 52ZZZO of the Act
Part 1 Ineligible deductions: ITAA 1936
Part 2 Ineligible deductions: ITAA 1997

Part 1 Preliminary

1 Name of Determination

  This Determination is the Veterans' Entitlements (Attribution of Income – Ineligible Deductions) Determination 2001.

2 Commencement

  This Determination commences when the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 commences.

3 Definitions

  In this Determination:
Act means the Veterans' Entitlements Act 1986.
assessable income means assessable income for the purposes of ITAA 1936 or ITAA 1997.
ITAA 1936 means the Income Tax Assessment Act 1936.
ITAA 1997 means the Income Tax Assessment Act 1997.

Part 2 Ineligible deductions and ineligible parts of deductions

Division 2.1 Ineligible deductions

4 Ineligible deductions — ITAA 1936 and ITAA 1997

 (1) For subsection 52ZZO (3) of the Act:
 (a) an allowable deduction for the purposes of a provision of ITAA 1936 mentioned in an item in Part 1 of Schedule 1 is an ineligible deduction; and
 (b) an allowable deduction for the purposes of a provision of ITAA 1997 mentioned in an item in Part 2 of Schedule 1 is an ineligible deduction.

 (2) For subsection 52ZZZO (3) of the Act:
 (a) an allowable deduction for the purposes of a provision of ITAA 1936 mentioned in an item in Part 1 of Schedule 2 is an ineligible deduction; and
 (b) an allowable deduction for the purposes of a provision of ITAA 1997 mentioned in an item in Part 2 of Schedule 2 is an ineligible deduction.

Division 2.2 Ineligible parts of deductions

5 Ineligible part of certain superannuation contributions

 (1) For subsection 52ZZO (5) of the Act, this section applies if a company or a trust