Income tax: property development: are tender costs incurred by an unsuccessful tenderer deductible under subsection 51(1) of the Income Tax Assessment Act 1936?
1
Yes. Tender costs are deductible under subsection 51(1) if an unsuccessful tenderer is in business, where tender costs are incidental and relevant to that business (per Ronpibon Tin v FCT (1949) 78 CLR 47 and Charles Moore & Co. (W.A.) Pty Ltd v FCT (1956) 11 ATD 147).