AI Summary of 60. General limits on deductibility.
This section defines key terms relevant to tax deductions for delegates attending qualifying conferences, including 'delegate', 'motor vehicles', and 'qualifying accommodation'. It outlines the criteria for a qualifying conference, such as the requirement for at least 50 delegates and specific documentation from the organiser.
Notably, tax deductions related to food, drink, personal services, and certain entertainment expenses are restricted. Further exclusions apply to motor vehicle purchases and expenditures for immovable goods unrelated to the accountable person's business. Compliance with these stipulations is crucial for navigating regulatory obligations and optimising tax positions.
60. General limits on deductibility.
(1) In this subsection and subsection (2) -
"delegate" means a taxable person or a taxable person's employee or agent who attends a qualifying conference in the course or furtherance of the taxable person's business;
"motor vehicles" means motor vehicles designed and constructed for the conveyance of persons by road and sports motor vehicles, estate cars, station wagons, motor cycles, motor scooters, mopeds and auto cycles, whether or not so designed and constructed, excluding vehicles designed and constructed for the carriage of more than 16 persons (inclusive of the driver), invalid carriages and other vehicles of a type designed for use by invalids or infirm persons;
"qualifying accommodation" means the supply to a delegate of a service consisting of the letting of immovable goods covered by paragraph 11 of Schedule 3, for a maximum period starting from the night prior to the date on which the qualifying conference commences and ending on the date on which the conference concludes;