Income Tax Assessment Act 1997
When a luxury car lease ends (whether it expires or is terminated before its expiry date), one of 3 things will happen:
In each case, there may be adjustments under Subdivision 242-D to ensure that the right amount has been taxed over the term of the lease.
|242-80||What happens if the term of the lease is extended or the lease is renewed|
|242-85||What happens if an amount is paid by the lessee to acquire the car|
|242-90||What happens if the lessee stops having the right to use the car|
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