Income Tax Assessment Act 1997
View history note
Hide history noteYour assessable income includes an amount you receive from an entity if:
(a) you receive it as a lessor or former lessor of premises; and
(b) the entity pays you the amount for failing to comply with a lease obligation to make repairs to the premises; and
(c) the entity uses or has used the premises for the * purpose of producing assessable income; and
(d) the amount is not assessable as * ordinary income under section 6-5 .
Note:
The entity can deduct the amount: see section 25-15 .
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