Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1209c
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1209C
Character Range: 2623452–2625088

1209C  Permissible reductions of income from carrying on a primary production enterprise
 (1) For the purposes of this Division, if an entity carries on a primary production enterprise, the entity's income from the primary production enterprise is to be reduced by:
 (a) losses and outgoings that relate to the primary production enterprise and are allowable deductions for the purposes of section 8‑1 of the Income Tax Assessment Act 1997; and
 (b) amounts that relate to the primary production enterprise and can be deducted in respect of plant (within the meaning of the Income Tax Assessment Act 1997) under Division 40 of that Act; and
 (c) amounts that relate to the primary production enterprise and are allowable deductions under any other provision of the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
 (2) However, the rule in subsection (1) does not apply to:
 (a) an ineligible deduction (see subsection (3)); or
 (b) an ineligible amount (see subsection (4)); or
 (c) an ineligible part of a deduction (see subsection (5)).
 (3) The Secretary may, by legislative instrument, determine a specified deduction is an ineligible deduction for the purposes of this section.
 (4) The Secretary may, by legislative instrument, determine that a specified amount is an ineligible amount for the purposes of this section.
 (5) The Secretary may, by legislative instrument, determine that a specified part of a specified deduction is an ineligible part of the deduction for the purposes of this section.
 (6) A determination under subsection (3), (4) or (5) has effect accordingly.

Division 12—Anti‑avoidance