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 1997
47 At the end of subsection 40-525(2)
Add:
Note: If Division 250 applies to you and an asset that is a horticultural plant:
(a) if section 250-150 applies - a condition in this subsection is taken to be satisfied for the plant to the extent specified in a determination made under subsection 250-150(3); or
(b) otherwise - the conditions in this subsection are taken not to be satisfied for the horticultural plant.
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