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-H - Capital expenditure that is immediately deductible  

Operative provisions

SECTION 40-765   40-765   Non-arm's length transactions  


If you incurred capital expenditure under an * arrangement and:


(a) there is at least one other party to the arrangement with whom you 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 you take into account under this Subdivision is that market value.


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