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Income Tax Assessment (1997 Act) Regulations 2021

made under the

Income Tax Assessment Act 1997 and the Income Tax (Transitional Provisions) Act 1997

Compilation No. 11

Compilation date: 7 December 2024

                Includes amendments: F2024L01596

About this compilation

This compilation

This is a compilation of the Income Tax Assessment (1997 Act) Regulations 2021 that shows the text of the law as amended and in force on 7 December 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
Chapter 1—Introduction and core provisions
1 Name
3 Authority
Chapter 2—Liability rules of general application
Part 2‑5—Rules about deductibility of particular kinds of amounts
Division 26—Some amounts you cannot deduct, or cannot deduct in full
26‑85.01 Borrowing costs on loans to pay life insurance premiums—term insurance policy etc.
Division 30—Gifts or contributions
30‑212.01 Valuation of gifts
30‑212.02 Application for valuation
30‑212.03 Charge for making valuation
30‑212.04 Advance payment of charge
30‑212.05 Commissioner not required to consider application until advance payment is paid
30‑212.06 Applications treated as having no effect
30‑212.07 Crediting and repaying valuation charges
30‑212.08 Valuation certificates
Division 31—Conservation covenants
31‑15.01 Valuation of land
31‑15.02 Application for valuation
31‑15.03 Charge for making valuation
31‑15.04 Advance payment of charge
31‑15.05 Commissioner not required to consider application until advance payment is paid
31‑15.06 Applications treated as having no effect
31‑15.07 Crediting and repaying valuation charges
31‑15.08 Valuation certificates
Part 2‑15—Non‑assessable income
Division 50—Exempt