INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10F - Deduction for capital expenditure incurred in establishing horticultural plants  

Subdivision I - Interpretation  

SECTION 124ZZQ   OWNER INCLUDES LESSEE OR LICENSEE  

124ZZQ(1)   Crown lease.  

For the purposes of this Division, if:

(a) a taxpayer is the lessee of land under a Crown lease (within the meaning of section 54AA ); and

(b) a plant is affixed to the land; and

(c) the taxpayer or another entity planted the plant; and

(d) apart from this section, the taxpayer is not the owner of the plant; and

(e) the Crown lease enables the taxpayer to carry on a business of horticulture on the land; and

(f) if there is a holder of a lesser interest or licence in relation to the land - the holder does not carry on a business of horticulture on the land;

the taxpayer is taken to be the owner of the plant instead of any other entity.

124ZZQ(2)   Ordinary lease.  

For the purposes of this Division, if:

(a) a taxpayer is the lessee of land under a lease other than a Crown lease (within the meaning of section 54AA ); and

(b) a plant is affixed to the land; and

(c) the taxpayer or another entity planted the plant; and

(d) apart from this section, the taxpayer is not the owner of the plant; and

(e) the lease enables the taxpayer to carry on a business of horticulture on the land; and

(f) if there is a holder of a lesser interest or licence in relation to the land - the holder does not carry on a business of horticulture on the land;

the taxpayer is taken to be the owner of the plant instead of any other entity.

124ZZQ(3)   Licence.  

For the purposes of this Division, if:

(a) a taxpayer holds a licence in relation to land; and

(b) a plant is affixed to the land; and

(c) the taxpayer or another entity planted the plant; and

(d) apart from this section, the taxpayer is not the owner of the plant; and

(e) the licence enables the taxpayer to carry on a business of horticulture on the land;

the taxpayer is taken to be the owner of the plant instead of any other entity.

124ZZQ(4)   Definition.  

In this section:

lease
includes sublease.