INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision B - Development allowance  

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History

Subdiv B heading substituted by No 98 of 1992 and inserted by No 50 of 1976.

Former Subdivision B of Division 3 (``Concessional Deductions'') repealed by No 117 of 1975. Former Subdivision B of Division 3 previously amended by No 80 of 1975, No 126 and No 26 of 1974, No 216, No 164, No 52 and No 51 of 1973, No 85 of 1972 and No 93 of 1971.

SECTION 82AI  

82AI   NOTIONAL DISPOSAL OF PROPERTY UNDER HIRE-PURCHASE  
For the purposes of sections 82AG and 82AH , if a taxpayer who took property on hire under a hire-purchase agreement does or omits to do any act or thing that results in the person (in this section referred to as the owner ) from whom the taxpayer took the property on hire under that agreement obtaining possession of the property:

(a) the taxpayer is taken to have disposed of the property; and

(b) the disposal is taken to have occurred at the time when possession of the property was so obtained by the owner.

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History

S 82AI(a) and (b) substituted by No 98 of 1992.

S 82AI amended by No 14 of 1984.

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