INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART III
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LIABILITY TO TAXATION
Division 3
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Deductions
Subdivision B
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Development allowance
SECTION 82AI
82AI
NOTIONAL DISPOSAL OF PROPERTY UNDER HIRE-PURCHASE
For the purposes of sections 82AG and 82AH , if a taxpayer who took property on hire under a hire-purchase agreement does or omits to do any act or thing that results in the person (in this section referred to as the owner ) from whom the taxpayer took the property on hire under that agreement obtaining possession of the property:
(a) the taxpayer is taken to have disposed of the property; and
(b) the disposal is taken to have occurred at the time when possession of the property was so obtained by the owner.
View history note
Hide history noteFor the purposes of sections 82AG and 82AH , if a taxpayer who took property on hire under a hire-purchase agreement does or omits to do any act or thing that results in the person (in this section referred to as the owner ) from whom the taxpayer took the property on hire under that agreement obtaining possession of the property:
(a) the taxpayer is taken to have disposed of the property; and
(b) the disposal is taken to have occurred at the time when possession of the property was so obtained by the owner.