Income Tax Assessment Act 1936
View history note
Hide history noteFor the purposes of this Part, in determining whether a company passes the active income test:
(a) a hire-purchase transaction or any other transaction for the financing of the acquisition of property is to be treated as a loan of money; and
(b) income derived under the transaction is to be treated as interest. 441(2) [Interpretation]
Nothing in subsection (1) limits the generality of the expressions ``interest'', ``loan'' or ``payment in the nature of interest''.
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