INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteSubject to subsection (2), the expression leasing company means a corporation that carries on in Australia as its sole or principal business:
(a) the business of banking; or
(b) the business of borrowing money and:
(i) lending money, with or without security; or
(ii) letting property on hire under a hire-purchase agreement; or
680(2) [Exception]
(iii) leasing property.
The corporation is not a leasing company if the whole of the income of the business is exempt income.
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