S 396-5 repealed by No 41 of 2011, s 3 and Sch 5 item 158, effective 27 June 2011. S 396-5 formerly read:
SECTION 396-5 What this Division is about
A lender can get a tax offset for certain interest it derives on an approved borrowing by another entity for the construction of land transport facilities.
For a borrowing to be approved:
(a) the borrower must apply to the Commissioner; and
(b) the Transport Minister must approve the application; and
(c) that Minister, the borrower and each of the lenders must enter into an agreement.
The total of tax offsets available under this Division for an income year is subject to a limit.
Where a tax offset is given for interest, the borrower cannot deduct the interest.
S 396-5 amended by No 88 of 2009, s 3 and Sch 5 item 150, by substituting
"
Transport Minister
"
for
"
Minister for Transport and Regional Development
"
, effective 18 September 2009.
S 396-5 inserted by No 16 of 1998.
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