Document ID: chunk:federal_register_of_legislation:C2025C00014:section:82kh:p7
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 82KH (pt 7/21)
Character Range: 492636–495123

property; or
 (wa) expenditure (unless covered by an earlier paragraph of this definition) incurred by the taxpayer in respect of an item of intellectual property (as defined in of the Income Tax Assessment Act 1997), but only to the extent described at the end of this definition;
 (w) a loss or outgoing (other than a loss or outgoing referred to in subsection 52A(1) or to which a preceding paragraph of this definition applies) incurred by the taxpayer to the extent to which a deduction would, apart from section 82KL, be allowable to the taxpayer under section 8‑1 of the Income Tax Assessment Act 1997 in respect of the loss or outgoing.
However, paragraph (ka), (oa) or (wa) only covers expenditure to the extent that:
 (x) it is taken into account in working out under Division 40 of the Income Tax Assessment Act 1997 the adjustable value of the item to the taxpayer in determining whether, apart from section 82KL of this Act, the taxpayer could deduct an amount under that Division for the item for a year of income; or
 (y) it would be so taken into account apart from item 8 in the table in subsection 40‑180(2), or item 1 in the table in subsection 40‑190(3) (both about non‑arm's length transactions).
rent means rent in respect of land or premises.
tax avoidance agreement means an agreement that was entered into or carried out for the purpose, or for purposes that included the purpose, of securing that a person who, if the agreement had not been entered into or carried out, would have been liable to pay income tax in respect of a year of income would not be liable to pay income tax in respect of that year of income or would be liable to pay less income tax in respect of that year of income than that person would have been liable to pay if the agreement had not been entered into or carried out.
unit of industrial property has the same meaning as in former Division 10B.
 (1A) In determining for the purposes of this Subdivision whether an agreement is a tax avoidance agreement, no regard shall be had to a purpose that is a merely incidental purpose.
 (1AA) A reference in this Subdivision to the incurring by a taxpayer of a bad debt shall be read as a reference to a debt, or a part of a debt, owed to the taxpayer becoming a bad debt.
 (1AB) A reference in:
 (a) subsection 82KL(2); or
 (b) former section 80 in relation to this Subdivision;
to the incurring by a taxpayer of a loss or outgoing shall be read as including a reference to the incurring by a