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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances    View history reference

Subdivision 40-I - Capital expenditure that is deductible over time    View history reference

Operative provisions

SECTION 40-885  

40-885  Non-arm's length transactions  

 View history reference [No equivalent]
If you incurred capital expenditure, or received an amount, under an *arrangement and:


(a) there is at least one other party to the arrangement with whom you did not deal at *arm's length; and


(b) apart from this section:


(i) the amount of the expenditure would be more than the *market value of what it was for; or

(ii) the amount you received would be less than the market value of what it was for;

the amount of expenditure, or the amount received, you take into account under this Subdivision is that market value.


 



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