INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-J - Capital expenditure for the establishment of trees in carbon sink forests  

Operative provisions

SECTION 40-1025   40-1025   Non-arm ' s length transactions  


If an entity incurred capital expenditure under an *arrangement and:


(a) there is at least one other party to the arrangement with whom the entity did not deal at *arm ' s length; and


(b) apart from this section, the amount of the expenditure would be more than the *market value of what it was for;

the amount of expenditure taken into account under this Subdivision is that market value.


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