Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 2/9)
Character Range: 339919–342722

does not apply to you if, at any time in the income year in which you disposed of the *car, it was allocated to a pool of yours under Division 328.

Disposals of interests in a car: special rules apply

20‑160  Disposal of an interest in a car
 (1) This Subdivision applies to the disposal of an interest in a *car in almost the same way as it does to the disposal of the car itself. The differences are set out below.
 (2) Your assessable income includes so much of your *profit on the disposal as is reasonable. The limits in subsections 20‑110(2) and 20‑125(2) do not apply.
 (3) The cost of the interest to you is taken to be a reasonable amount.
 (4) Sections 20‑135 and 20‑140 do not apply to the disposal.
Note 1: Section 20‑135 says that you do not include an amount if there has been an earlier disposal of the car for market value.
Note 2: Section 20‑140 allows you to reduce the amount to be included if there has been an earlier disposal of the car.
 (5) Section 20‑145 applies to the disposal if you inherited either the interest or the *car itself.
Note: Section 20‑145 says that you do not include an amount if you inherited the car.

Part 2‑5—Rules about deductibility of particular kinds of amounts

Division 25—Some amounts you can deduct

Guide to Division 25

25‑1  What this Division is about

      This Division sets out some amounts you can deduct. Remember that the general rules about deductions in Division 8 (which is about general deductions) apply to this Division.

Table of sections

Operative provisions
25‑5 Tax‑related expenses
25‑10 Repairs
25‑15 Amount paid for lease obligation to repair
25‑20 Lease document expenses
25‑25 Borrowing expenses
25‑30 Expenses of discharging a mortgage
25‑35 Bad debts
25‑40 Loss from profit‑making undertaking or plan
25‑45 Loss by theft etc.
25‑47 Misappropriation where a balancing adjustment event occurs
25‑50 Payments of pensions, gratuities or retiring allowances
25‑55 Payments to associations
25‑60 Parliament election expenses
25‑65 Local government election expenses
25‑70 Deduction for election expenses does not extend to entertainment
25‑75 Rates and land taxes on premises used to produce mutual receipts
25‑85 Certain returns in respect of debt interests
25‑90 Deduction relating to foreign non‑assessable non‑exempt income
25‑95 Deduction for work in progress amounts
25‑100 Travel between workplaces
25‑110 Capital expenditure to terminate lease etc.
25‑115 Deduction for payment of rent from land investment by operating entity to asset entity in relation to approved economic infrastructure facility
25‑120 Transitional—deduction for payment of rent from land investment by operating entity to asset entity
25‑125 COVID‑19 tests

Operative provisions

25‑5  Tax‑related expenses
 (1) You can deduct expenditure you