26‑31 Travel related to use of residenti26‑31 Travel related to use of residential premises as residential accommodation

26‑31 Travel related to use of residential premises as residential accommodation

(1) You cannot deduct under this Act a loss or outgoing you incur, insofar as it is related to travel, if: (a) it is incurred in gaining or producing your assessable income from the use of *residential premises as residential accommodation; and (b) it is not necessarily incurred in carrying on a *business for the purpose of gaining or producing your assessable income. Exception—kind of entity (2) Subsection (1) does not stop you deducting a loss or outgoing if, at any time during the income year in which the loss or outgoing is incurred, you are: (a) a *corporate tax entity; or (b) a *superannuation plan that is not a *self managed superannuation fund; or (c) a *managed investment trust; or (d) a public unit trust (within the meaning of section 102P of the Income Tax Assessment Act 1936); or (e) a unit trust or partnership, if each *member of the trust or partnership is covered by a paragraph of this subsection at that time during the income year.