INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
In this Subdivision -
(Repealed by No 34 of 2000)
means plant within the meaning of section 45-40 of the Income Tax Assessment Act 1997 and includes earth tanks constructed for the purpose of conserving water for use in carrying on a business of primary production.
means a hire purchase agreement to which Division 240 of the Income Tax Assessment Act 1997 applies.
(a) the business of banking; or
(b) the business of borrowing money and providing finance,
not being a business the whole of the income from which is exempt income.
, in relation to a company (the first company ), means another company to which the first company is related within the meaning of section 51AE (see subsections 51AE(16) to (19)).
(Omitted by No 98 of 1992)
(Omitted by No 98 of 1992)
(a) lending money, with or without security;
(b) letting property on hire under a hire-purchase agreement; or
(c) leasing property. 82AQ(3) [Meaning of acquisition of property]
(a) a reference to the acquisition of property by a person is a reference to:
(i) the person becoming the owner of the property or taking the property on hire under a hire-purchase agreement; or
(ii) the construction of the property for the person by another person or other persons on premises of the first-mentioned person;
(b) a reference to property being installed ready for use is a reference to property being installed ready for use and held in reserve; and
(c) a reference to taking property on lease is a reference to taking property on lease or on hire otherwise than under a hire-purchase agreement. 82AQ(3A) [Application]
(a) a unit of property is attached to land that a taxpayer holds under a quasi-ownership right granted by an exempt Australian government agency or an exempt foreign government agency; and
(b) the taxpayer is the holder of the property for the purposes of Division 40 of the Income Tax Assessment Act 1997 ;
this Subdivision applies as if the taxpayer were the owner of the property instead of any other person.
(Repealed by No 77 of 2001)
In subsection (3A), exempt Australian government agency , exempt foreign government agency and quasi-ownership right have the same meanings as in the Income Tax Assessment Act 1997 .
For the purposes of this Subdivision, an Australian space object is taken to be in Australia.
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