Compare documents

No. TD 94/80 clarifies the operation of section 159GZZZZF of the Income Tax Assessment Act 1936 (the Act). That section modified, in respect of infrastructure borrowings, the statutory scheme contained in subsection 51(1) restricting the allowability of deductions incurred in earning exempt income.

TD 94/80 explains the Commissioner's view of how the law works in relation to infrastructure borrowings under the former scheme of tax concessions contained in Division 16L of the Act.

TD 94/80 has no application to the Land Transport Facilities tax offset scheme contained in Division 396 of the Income Tax Assessment Act 1997.

If you wish to comment on this draft Determination, please send your comments by 15 January 1999 to: Contact officer details have been removed following publication of the final determination.