25-50
CurrentPayments of pensions, gratuities or retiring allowances
Chapter 2Liability rules of general application
Part 2-5Rules about deductibility of particular kinds of amounts
Division 25Some amounts you can deduct
25-50 Payments of pensions, gratuities or retiring allowances
(1)
You can deduct a payment of a pension, gratuity or retiring allowance that you make to:
(a)
an employee; or
(b)
a former employee; or
(c)
a dependant of an employee or a former employee.
(2)
However, you can deduct it only to the extent that it is made in good faith in consideration of the past services of the employee, or former employee, in any *business that you carried on for the purpose of gaining or producing assessable income.
(3)
You cannot deduct a payment under this section if you can deduct it under any other provision of this Act.
Sign in to see bill, explanatory material, and regulations and instruments
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.