INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision B - Development allowance  

SECTION 82AI   82AI   NOTIONAL DISPOSAL OF PROPERTY UNDER HIRE-PURCHASE  
For the purposes of sections 82AG and 82AH , if a taxpayer who took property on hire under a hire-purchase agreement does or omits to do any act or thing that results in the person (in this section referred to as the owner ) from whom the taxpayer took the property on hire under that agreement obtaining possession of the property:


(a) the taxpayer is taken to have disposed of the property; and


(b) the disposal is taken to have occurred at the time when possession of the property was so obtained by the owner.


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