Section 26‑80 Financing costs on loans to pay su - Income Tax Assessment Act 1997 - 26‑80 Financing costs on loans to pay superannuation contribution — Zoe

Zoe

Legislation Cases Absurdities Ask Zoe Graph Pricing

Ask Zoe →

Home/Legislation/Income Tax Assessment Act 1997/26‑80 Financing costs on loans to pay su

CTHIn ForceAct

Income Tax Assessment Act 1997

26‑80 Financing costs on loans to pay su26‑80 Financing costs on loans to pay superannuation contribution

Start here

Get a plain-English read of 26‑80 Financing costs on loans to pay su

Turn the raw legal text into a practical explanation grounded in Income Tax Assessment Act 1997.

View in full context

#### 26‑80 Financing costs on loans to pay superannuation contribution (1) You can only deduct under this Act a \*financing cost connected with a contribution you make to a \*superannuation plan if you can deduct the contribution under Subdivision 290‑B. (2) A financing cost connected with a contribution is expenditure incurred to the extent that it relates to obtaining finance to make the contribution, including: (a) interest, and payments in the nature of interest; and (b) expenses of borrowing.

Previous section26‑75 Excess non‑concessional contributi26‑75 Excess non‑concessional contributions tax cannot be deducted Next section26‑85 Borrowing costs on loans to pay li26‑85 Borrowing costs on loans to pay life insurance premiums