Variation in relation to s DB 31 of the Income Tax Act 2007 to extend time for writing off bad debts
This variation applies to a person who wishes to claim a deduction in the 2022 income year for a bad debt. The variation recognises that the impact of COVID-19 means that some taxpayers may not have been able to write off debts as bad during their 2022 income year, and it extends the time for writing off debts as bad to 30 June 2022.
Tax Administration Act 1994: ss 6H and 6I
Income Tax Act 2007: s DB 31