INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 242 - Leases of luxury cars  

Subdivision 242-C - Deductions allowable to lessee  

Guide to Subdivision 242-C

SECTION 242-45   242-45   What this Subdivision is about  


The lessee is entitled to deduct the interest on the notional loan to the same extent that the lessee would have been able to deduct the lease payments apart from this Division.


TABLE OF SECTIONS
TABLE OF SECTIONS
Operative provisions
242-50 Extent to which deductions are allowable to lessee
242-55 Lease payments not deductible


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