Income Tax Act 2007 section 100

Prohibition against double counting

Section 100 prevents a person from claiming post-cessation trade relief where relief for the same amount is already given or available under another provision of the Income Tax Acts.

• Post-cessation trade relief cannot be claimed for any amount that already qualifies for relief under another Income Tax Acts provision
• Relief available under section 254 of ITTOIA 2005 (allowable deductions against post-cessation receipts) is treated as being used first, before post-cessation trade relief applies
• Section 254 relief is still treated as available even where the post-cessation receipts themselves are exempt under section 524 (charitable trades exemption)
• The overall effect is to prevent any double counting of the same expenditure or loss under two different relief provisions