Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 243 - Limited recourse debt  

Subdivision 243-A - Circumstances in which Division operates  

Operative provisions

SECTION 243-30   What is the financed property and the debt property?  

243-30(1)    
Property is the financed property if the expenditure referred to in paragraph 243-15(1)(a) is on the property, is on the acquisition of the property, results in the creation of the property or is otherwise connected with the property.

243-30(2)    

If the debt agreement is a notional loan arising under Division 240 (about arrangements treated as a sale and loan), the property that is the subject of the agreement is the financed property .

243-30(3)    
Property is the debt property if:

(a) it is the * financed property; or

(b) the property is provided as security for the debt.