Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 250.80

Treatment of particular arrangements in the same way as leases

                   This Division applies to an * arrangement that:

                     (a)  in substance or effect, depends on the use of a specific asset that is:

                              (i)  real property; or

                             (ii)  goods or a personal chattel (other than money or a money equivalent); and

                     (b)  gives a right to control the use of the asset (other than temporarily for the purpose of ensuring public health or safety, protecting the environment or continuing the supply of an essential service); and

                     (c)  is not a lease;

in the same way as it applies to a lease.

Note:          Even if this section applies to treat an arrangement in relation to an asset as a lease, the requirements in section 250-50 still need to be satisfied before an entity can be an end user of the asset.

Financial benefits in relation to tax preferred use



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