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Edited version of private advice
Authorisation Number: 1051693954894
Date of advice: 12 June 2020
Ruling
Subject: Application of section 12-440 of Schedule 1 to the Taxation Administration Act 1953
Question 1
Was the Asset Trust, before 27 March 2018, the lessee of a facility for the purposes of subparagraph 12-440(2)(a)(ii) of Schedule 1 to the Taxation Administration Act 1953 (TAA 1953)?
Answer
Yes
Question 2
If the answer to question 1 is "yes", is that facility an economic infrastructure facility as defined in subsection 12-439(5) of Schedule 1 to the TAA 1953?
Answer
Yes
Question 3
If the answer to question 1 is "yes", will the assets comprising the New Project constitute an enhancement to that facility, such that it is not relevantly a new facility for the purposes of section 12-440 of Schedule 1 to the TAA 1953?
Answer
Yes
Relevant facts and circumstances
The taxpayer (the Asset Trust) applied for a private ruling on the application of the transitional rules in section 12-440 of Schedule 1 to the TAA 1953.
Relevant legislative provisions
Subsection 12-439(5) of Schedule 1 to the TAA 1953
Section 12-440 of Schedule 1 to the TAA 1953