Tax Laws Amendment (Transfer of Provisions) Act 2010 (79 of 2010)

Schedule 3   Leases of luxury cars

Part 2   Consequential amendments

Income Tax Assessment Act 1997

46   Subparagraphs 974-130(4)(a)(iii) and (iv)

Repeal the subparagraphs, substitute:

(iii) the lease or bailment is not an*arrangement to which Division 240 of this Act (about arrangements treated as a sale and loan), or Division 242 of this Act (about luxury car leases), applies;