Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 240.30

What this Subdivision is about

This Subdivision provides for the inclusion in the notional seller's assessable income of:

(a)   amounts (notional interest) on account of the interest for the notional loan that the notional seller is taken to have made to the notional buyer; and

(b)   any profit made by the notional seller:

               (i)     on the notional sale of the property to the notional buyer; or

              (ii)     on a sale of the property after any notional re-acquisition of the property by the notional seller.

Table of sections

Operative provisions

240-35      Amounts to be included in notional seller's assessable income

240-40      Arrangement payments not to be included in notional seller's assessable income

Operative provisions



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