Tax Law Improvement Act 1997 (121 of 1997)

Schedule 6   Depreciation

Part 3   Consequential amendment of the Income Tax Assessment Act 1936

114   Paragraphs 160ZWD(1)(a), (b), (c) and (d)

Repeal the paragraphs, substitute:

(a) an entity holds land under a quasi-ownership right granted by an exempt Australian government agency or an exempt foreign government agency; and

(b) a unit of property is attached to the land; and

(c) the entity is the quasi-owner of the unit under subsection 42-310(1) of the Income Tax Assessment Act 1997; and

(d) the quasi-ownership right expires or is surrendered or terminated; and