Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 20 - Amounts included to reverse the effect of past deductions  

Subdivision 20-B - Disposal of a car for which lease payments have been deducted  

Previous disposals of the car

SECTION 20-135  

20-135   No amount included if earlier disposal for market value  
You do not include an amount in your assessable income because of the disposal if, after the lessor disposed of the ^* car and before you disposed of it, an entity other than you disposed of the car and:

(a) the ^* consideration receivable for that disposal was at least the ^* market value of the car at the time of that disposal; or

(b) because of that disposal, that market value was included, or an amount worked out using that market value was included, in the entity's assessable income under this Act.