INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteFor the purposes of this Part, the consideration for the disposal of an asset constituted by a lease, being a disposal by way of the expiry, forfeiture or surrender of the lease, includes any amount paid or payable by the lessor to the lessee upon the disposal in respect of expenditure of a capital nature incurred by the lessee in making improvements to the property that was the subject of the lease.
160ZV(2) [Subsequent disposal by owner]If an asset, being property that was the subject of a lease in respect of the expiry, forfeiture or surrender of which an amount was paid or payable by the lessor to the lessee as mentioned in subsection (1), is subsequently disposed of in whole or in part by the owner, the amount so paid or payable shall be deemed, for the purpose of ascertaining the cost base, the indexed cost base or the reduced cost base to the owner of the asset or part of the asset so disposed of, to be expenditure to which paragraph 160ZH(1)(c) , (2)(c) or (3)(c), as the case may be, applies.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
