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Edited version of your private ruling
Authorisation Number: 1011990269476
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Ruling
Subject: Assessability of a government grant
Question 1
Will government funding paid to the Rulee under a program in relation to the construction of a building which will be leased to another entity for the purpose of operating a business be assessable under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
No.
Question 2
Will government funding paid under the program for the construction of a building which will be leased to another entity for the purpose of operating a business be assessable under section 15-10 of the ITAA 1997?
Answer
No.
Question 3
Will government funding paid under the program for the construction of a building which will be leased to another entity for the purpose of operating a business be assessable under the capital gains tax (CGT) provisions of the ITAA 1997?
Answer
No.
Relevant facts and circumstances
The facts upon which this ruling was based were extracted from (i) the application and (ii) additional information provided by your tax agent by way of email and telephone.