Income Tax Act 1947 · 2020 Revised Edition · Part 9 · Ascertainment of Assessable Income
37Q. Exclusion of expenditure or payment subsidised by capital grant
Feedback & supportLast amended by an amending law of 2025. 3 amendments in all.
Despite anything in this Act or the Economic Expansion Incentives (Relief from Income Tax) Act 1967, a deduction or an allowance under this Act or Part 8 of the Economic Expansion Incentives (Relief from Income Tax) Act 1967 may not be made or given in respect of any expenditure or payment to the extent that the expenditure or payment is or is to be subsidised by a grant or subsidy from the Government or a statutory board that is —
capital in nature; and
approved by the Government or statutory board on or after 1 January 2021.
Subsection (1) does not affect the operation of the following provisions:
sections 14A(7), 14B(4)(e), 14C(1A), 14D(12)(b), 14EA(10), 14EB(9), 14H(3)(c), 14I(10)(b), 14U(7), 14Z(7) and (9) and 37O(29);
section 41(3) of the Economic Expansion Incentives (Relief from Income Tax) Act 1967.[37N