Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)

Schedule 1   Consolidation

Part 3   Finance leases

Income Tax Assessment Act 1997

4   At the end of subsection 705-25(5) (after the note)

Add:

Note 2: The joining entity's right to receive lease payments under a finance lease is treated as a retained cost base asset in some circumstances (see paragraph 705-56(3)(b)).