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Edited version of your private ruling
Authorisation Number: 1012538115821
Ruling
Subject: Will company leases meet the definition of a Crown lease
The ruling concerned the following:
Will the Company's existing leases and proposed leases meet the definition of a Crown lease under paragraph 124-580(a) of the Income Tax Assessment Act 1997 (ITAA 1997) for the purposes of the replacement asset roll-over provision under Subdivision 124-J of the ITAA 1997?
Decision
The Commissioner ruled that:
Yes. The Company's existing and proposed leases each meet the definition of a Crown Lease under paragraph 124-580(a) of the Income Tax Assessment Act 1997.