Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 1   Tax preferred entities (asset financing)

Part 2   Consequential amendments

Income Tax Assessment Act 1936

29   At the end of subsection 73B(15AA)

Add:

Note: If Division 250 of the Income Tax Assessment Act 1997 applies to you and an asset:

(a) if section 250-150 of that Act applies - you are taken to have qualifying expenditure in relation to the use of the asset to the extent specified in a determination made under subsection 250-150(3) of that Act; or

(b) otherwise - you are taken not to have such expenditure.