Income Tax Assessment Act 1997
(a) an amount is included in the lessor ' s assessable income for an income year under subsection 242-65(2) ; or
(b) an amount would have been so included if the lessor had been subject to tax on assessable income;
the lessee can deduct a corresponding amount for the same income year.242-70(2)
(a) the lessor can deduct an amount for an income year under subsection 242-65(3) ; or
(b) the lessor could have deducted an amount under that subsection if the lessor had been subject to tax on assessable income;
a corresponding amount is included in the lessee ' s assessable income for the same income year.242-70(3)
The lessee cannot deduct an amount for any income year under subsection (1), and an amount is not included in the lessee ' s assessable income of any income year under subsection (2), except to the extent (if any) that the lessee could deduct the *luxury car lease payments made apart from this Division.
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