Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 112.80

Leases

 

Leases

Item

In this situation:

Element affected:

See section:

1

A lessee incurs expenditure in obtaining the lessor's agreement to vary or waive a term of the lease

Fourth element of cost base and reduced cost base

132-1

2

A lessor pays an amount to the lessee for improvements made by the lessee to the property

Fourth element of cost base and reduced cost base

132-5

3

A lessor of a long-term lease incurs expenditure in obtaining the lessee's agreement to vary or waive a term of the lease or to forfeit or surrender the lease

Fourth element of cost base and reduced cost base

132-10

4

A lessee of land acquires the reversionary interest of the lessor

First element of cost base and reduced cost base

132-15



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