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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME    View history reference

Division 15 - Some items of assessable income    View history reference

Operative provisions  

SECTION 15-25  

15-25  Amount received for lease obligation to repair  

 View history reference ITAA 36
Your 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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