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You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4.

Edited version of private advice

Authorisation Number: 1051695207238

Date of advice: 12 August 2020

Ruling

Subject: Deductibility of lease payments

The Commissioner issued a private ruling in relation to the deductibility of lease payments under section 8-1 of the Income Tax Assessment Act 1997.