Taxation Laws Amendment Act (No. 1) 2001 (72 of 2001)
Schedule 2 Arrangements treated as a sale and loan and limited recourse debt
Part 2 Consequential amendments: arrangements treated as a sale and loan
Income Tax Assessment Act 1936
6 Sections 674 and 675
Repeal the sections, substitute:
674 Meaning of hire purchase agreement
A hire purchase agreement means a hire purchase agreement to which Division 240 of the Income Tax Assessment Act 1997 applies.
Note: Division 240 of the Income Tax Assessment Act 1997 sets out when property under a hire purchase agreement is disposed of.
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