Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 15 - Some items of assessable income  

Operative provisions  

SECTION 15-25  

15-25   Amount received for lease obligation to repair  

Your assessable income includes an amount you receive from an entity if:

(a) you receive it as a lessor or former lessor of premises; and

(b) the entity pays you the amount for failing to comply with a lease obligation to make repairs to the premises; and

(c) the entity uses or has used the premises for the ^* purpose of producing assessable income; and

(d) the amount is not assessable as ^* ordinary income under section 6-5 .

Note:

The entity can deduct the amount: see section 25-15 .