Income Tax Assessment Act 1997
CHAPTER 3 - SPECIALIST LIABILITY RULES PART 3-10 - FINANCIAL TRANSACTIONS
Division 240 - Arrangements treated as a sale and loan
SECTION 240-1 What this Division is about
For income tax purposes, some arrangements (such as hire purchase agreements) are recharacterised as a sale of property, combined with a loan, by the notional seller to the notional buyer, to finance the purchase price.