expenditure which falls under the general deductibility provision in s 8-1

expenditure expressly mentioned as deductible by a provision in the ITAA: s 8-5

managing a taxpayer’s ‘tax affairs’ (including the cost of travelling to have a tax return prepared) and noting ‘tax affairs’ is limited to a taxpayer’s income tax obligations only; 只限於納稅人的所得稅義務

complying with an obligation imposed by a Commonwealth law, in so far as it relates to ‘tax affairs’

the general interest charge imposed by ATO (in relation to an underpayment of tax or late payment)

tax advise unless the fee is paid to a recognised tax adviser being a registered tax or GST agent or a legal practitioner; 稅務諮詢不能抵扣

the actual payment of income tax; 實際支付所得稅

amounts withheld or payable under the Pay as you go (PAYG) system

interest incurred in borrowing money to pay an income tax liability.

Sub Topic

Sub Topic

That there is a repair

the item is held or used for the purpose to produce assessable income

the expenditure is not capital

You cannot claim for a notional repair, which is for an estimated or theoretical amount 要有實際的金額在修理費上 不能虛構

loan establishment fees,

title search fees charged by the lender,

costs for preparing and filing mortgage documents,

mortgage broker fees,

stamp duty charged on the mortgage,

fees for a valuation required for loan approval,

lender’s mortgage insurance (LMI) billed to the borrower

Above those are capital in nature and therefore are not deductible under s 8-1.

The total borrowing expenses are $100 or less a deduct the whole amount in the year incurred

the total borrowing expenses are more than $100, deduct them:

the deduction must be determined from the date the money was borrowed, and you can only claim the proportion related to the income-producing use.

Note: If you repay the loan early (and in less than five years), you can claim a deduction for the balance of the borrowing expenses in the income year that the loan is repaid in full.

Insurance policy premiums on policy that provides for your loan to be paid out in the event that you die or become disabled or unemployed private expense, not deductible.

Stamp duty charged on the transfer of the property 房地產轉讓，所收取的應花稅

Stamp duty incurred to acquire a leasehold interest in the property (such as a 99-year Crown lease in the Australian Capital Territory (ACT)) may be claimable as a lease document expense if the property is income-producing. 獲得房產的租賃權益所產生的印花稅

Interest expenses a deductible under s 8-1 to the extent that the borrowed money is used to produce assessable income.

The loan amount, or repayments of principal against the loan balance

1. There is a debt in existence at the time the taxpayer is trying to write it off 2. It must be ‘bad’ - an allowance is not sufficient; it must be that a reasonable businessperson would regard it as unlikely that it will be repaid: GE Crane Sales Pty Ltd v FCT (1971) 126 CLR 177 3. Must be written off in the income year (need some evidence in writing and a signed resolution in the income year, but it’s not necessary to write it off in the books): Point v FCT (1970) 119 CLR 453 4. Must have been included in the taxpayer’s assessable income or in respect of money lent in the ordinary course of a business of lending money.

The stolen money was included in the taxpayer’s assessable income in the current or earlier income year. 被盜用的費用需要包含納稅人在當前收入年度或之前的應稅收入中，才可以享有S25-45 的抵扣

The deduction is available in the income year that the taxpayer discovers the loss.

Any amount subsequently recouped by the taxpayer in relation to the loss may be included in their assessable income under Subdiv 20-A ITAA97.

Note: This section would not cover a partner in a partnership for amounts stolen by another partner

Where a material advantage is received in return, such as:

For a gift to be deductible under Div 30:

Where a gift or donation other than a political gift or donation is not deductible under Div 30, it may be deductible under s 8-1.