Federal Register of Legislation
Veterans' Entitlements (Attribution of Income — Ineligible Deductions) Determination 2020
Instrument 2020 No.R2
The Repatriation Commission, under sections 52ZZO and 52ZZZO of the Veterans' Entitlements Act 1986, makes this Determination.
Dated this 25th day of February 2020
The Seal of the ) Repatriation Commission ) SEAL is affixed hereto in the ) presence of : )
Elizabeth Cosson Donald Spinks ELIZABETH COSSON DONALD SPINKS AM CSC AM PRESIDENT COMMISSIONER
Contents
Page Part 1 Preliminary 1 Name of Determination 4 2 Commencement 4 3 Revocation 4 4 Definitions 4 Part 2 Ineligible deductions and ineligible parts of deductions Division 2.1 Ineligible deductions 5 Ineligible deductions — ITAA 1936 and ITAA 1997 5 Division 2.2 Ineligible parts of deductions 6 Ineligible part of amount of salary or wages 5 7 Ineligible part of amount of interest on borrowings 6 8 Trading stock of business — election under s 70-45 of ITAA 1997 7 9 Trading stock of primary production enterprise — election under s 70-45 of ITAA 1997 8 10 Trading stock of business — election under s 70-50 of ITAA 1997 8 11 Trading stock of primary production enterprise — election under s 70-50 of ITAA 1997 9 Schedule 1 Ineligible deductions for section 52ZZO of the Act 10 Part 1 Ineligible deductions: ITAA 1936 10 Part 2 Ineligible deductions: ITAA 1997 10 Schedule 2 Ineligible deductions for section 52ZZZO of the Act 12 Part 1 Ineligible deductions: ITAA 1936 12 Part 2 Ineligible deductions: ITAA 1997 12
Part 1 Preliminary
1 Name of Determination This Determination is the Veterans' Entitlements (Attribution of Income — Ineligible Deductions) Determination 2020. 2 Commencement This Determination commences the day after it is registered on the Federal Register of Legislation. 3 Revocation Schedule 8 (Veterans' Entitlements (Attribution of Income – Ineligible Deductions) Determination 2001- Instrument 2014 No. R70) of the Veterans' Affairs (Legislative Instrument Re-making Exercise) Instrument 2014 (Instrument 2014 No. R62) is revoked. 4 Definitions In this Determination: Act means the Veterans' Entitlements Act 1986. assessable income means assessable income for the purposes of ITAA 1936 or ITAA 1997. ITAA 1936 means the Income Tax Assessment Act 1936. ITAA 1997 means the Income Tax Assessment Act 1997.
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