INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Subject to this section, this Division does not apply to or in relation to a lease other than a lease granted on or before, or in pursuance of an agreement entered into on or before, 22 October 1964.
View history note
Hide history noteThis Division, other than section 85 , does not apply in relation to the assignment or surrender of a lease unless the assignment or surrender -
(a) took effect on or before 22 October 1964; or
(b) takes effect after that date in pursuance of an agreement entered into on or before that date.
In relation to the assignment or surrender after 22 October 1964 of a lease, section 85 does not apply unless the assignment or surrender is made by a person who acquired the lease on or before that date or in pursuance of an agreement entered into on or before that date, or by a person who succeeded to the lease upon the death of such a person, and does not apply -
(a) in relation to an amount referred to in paragraph 85(1)(b) that was paid in effecting improvements other than improvements referred to in subsection 88(2) , unless the assignment or surrender is made in pursuance of an agreement entered into on or before that date; or
(b) in relation to an amount that was paid for the purpose referred to in paragraph 85(1)(c) , unless the amount was paid on or before that date or in pursuance of an agreement entered into on or before that date.
Where, after 22 October 1964, improvements are made on land the subject of a lease with the written consent of the lessor of that land, sections 85 , 87 and 88 do not apply in relation to those improvements unless -
(a) the written consent was given on or before that date; or
(b) the Commissioner is satisfied that, on or before that date, the lessor had agreed, whether absolutely or subject to conditions, to give that consent and the written consent was given within a period after that date that the Commissioner, on the joint application in writing of the lessor and the lessee made not later than 60 days from that date or within such further time as the Commissioner allows, has approved (whether before or after the giving of the consent) as reasonable for the purposes of this subsection.
Nothing in the preceding provisions of this section applies in relation to -
(a) a lease from the Crown of land used for primary production; or
(b) a lease that is a mining lease within the meaning of section 88B , or any other lease of land for mining purposes.
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.
