Finance and Investment Division 250 Working Group minutes - 2 December 2008

3. Other business, action items

Summary of action items

D250-021208-2.1-1	Practical application of Division 250 to investments in real estate – Issue 1 Identification of the relevant asset and Issue 2 Testing each depreciating asset separately are to be considered by the Tax Office and regard given to issue of a public response. Issue 5 Determination of discount rate to be discussed with Treasury.
D250-021208-2.1-2	Practical application of Division 250 to investments in real estate – Issue 3 Determination of market value of relevant asset, and Issue 4 Determination of expected financial benefits in relation to the relevant asset identification of a short cut of financial benefits to particular assets: PCA to provide proposed methodologies.
D250-021208-2.2-1	Register of issues requiring clarification by the Tax Office and/or Treasury: Issue 2.02 to be considered by the Tax Office and regard given to issue of a public response. Issue 2.04 to be discussed with Treasury Issue 2.05 to be discussed with Treasury Issue 2.08 to be considered by the Tax Office and regard given to issue of a public response. Issues 2.06, 2.10, 2.11 and 2.12 to be considered further by the Tax Office.
D250-021208-2.2-2	Register of issues requiring clarification by the Tax Office and/or Treasury: Issue 2.09 further information to be provided.
D250-021208-2.3	Debt test exclusion from safe harbour test; and debt test element of PEI test – Examples of debt test exclusion from safe harbour test; and debt test element of PEI test to be provided.
D250-021208-2.4	Payments through intermediate entities – ICAA to provide more information that covers a generic situation of payments through intermediate entities.
D250-021208-2.5	Limited Recourse Debt – The Tax Office to discuss with Treasury the issue of Limited Recourse Debt words ‘wholly or predominantly’ in addition to the 80% test in paragraph 250-115(3)(a).
D250-021208-2.6	Definition of ‘member of the tax exempt sector’ – The Tax Office to discuss with Treasury the issue of the definition of ‘member of the tax exempt sector’ and whether its consequences for non-residents are intended.
D250-021208-2.7	Income Tax Assessment Act 1936 (ITAA 1936) section 51AD switch off – The Tax Office to consider the issue of ITAA 1936 section 51AD switch off with regard to issue of a public response.
D250-021208-2.8	Lease of multiple assets under a Single Master Lease Agreement – working group members to further consider issue.

Sections within Agenda items

• 1. Chairman's welcome
• 2. Agenda Items submitted by members
• 3. Other business, action items

Last Modified: Friday, 3 July 2009