Determining deductions for environmental protection activities

Jenny Wong & Richard Wilkins discuss a draft ruling from the ATO with a particular emphasis on determining deductions for environmental protection activities.

The Australian Taxation Office has released a draft ruling with a particular emphasis on determining deductions for environmental protection activities when a single sum is incurred to carry out multiple activities.Draft Taxation Ruling TR 2019/D3 Income tax: deductions for expenditure on environmental protection activities was recently released. This draft ruling focusses on section 40-755 of the Income Tax Assessment Act 1997 (ITAA 1997) which provides an immediate deduction for expenditure...

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Authors: Jenny Wong, Richard Wilkins

Published Date: 30 May 2019