Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 240.75

  (1)   If the * arrangement is stated to cease to have effect at a particular time, it is taken for the purposes of this Division to end (even if it is extended or renewed) at the earlier of:

  (a)   that time; or

  (b)   the time at which the arrangement ceases to have effect (whether because the arrangement is terminated or for any other reason).

Note:   Section   240 - 80 deals with extensions and renewals.

  (2)   An * arrangement is taken to have ended if it is extended or renewed.

  (3)   If the * arrangement is of indefinite duration, it ends at the time at which the arrangement ceases to have effect even if the * arrangement is renewed.

Note:   Section   240 - 80 deals with extensions and renewals.

  (4)   An * arrangement is taken to have ended if it is reasonable to conclude, having regard to the terms and conditions of the * arrangement, that the arrangement has ceased to have effect.

  (5)   An * arrangement is also taken to have ended if the property has been lost or destroyed.