INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 250 - Assets put to tax preferred use  

Subdivision 250-D - Deemed loan treatment of financial benefits provided for tax preferred use  

SECTION 250-185   250-185   Financial benefits subject to deemed loan treatment not assessed  


A *financial benefit is not included in your assessable income if the financial benefit:


(a) is *provided to you in relation to the tax preferred use of the asset; and


(b) is provided directly or indirectly by a *member of the tax preferred sector; and


(c) is *subject to deemed loan treatment.

The financial benefit is not assessable income and is not *exempt income.


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