Document ID: chunk:federal_register_of_legislation:C2017A00126:clause:1_2
Version: federal_register_of_legislation:C2017A00126
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 3957–5044

2  After section 26‑30
Insert:

26‑31  Travel related to use of residential premises as residential accommodation
 (1) You cannot deduct under this Act a loss or outgoing you incur, insofar as it is related to travel, if:
 (a) it is incurred in gaining or producing your assessable income from the use of *residential premises as residential accommodation; and
 (b) it is not necessarily incurred in carrying on a *business for the purpose of gaining or producing your assessable income.

Exception—kind of entity
 (2) Subsection (1) does not stop you deducting a loss or outgoing if, at any time during the income year in which the loss or outgoing is incurred, you are:
 (a) a *corporate tax entity; or
 (b) a *superannuation plan that is not a *self managed superannuation fund; or
 (c) a *managed investment trust; or
 (d) a public unit trust (within the meaning of section 102P of the Income Tax Assessment Act 1936); or
 (e) a unit trust or partnership, if each *member of the trust or partnership is covered by a paragraph of this subsection at that time during the income year.