Commonwealth Numbered Acts

INCOME TAX ASSESSMENT AMENDMENT ACT (NO. 2) 1980 No. 57 of 1980 - SECT 15

15. (1) Section 82AH of the Principal Act is amended-

   (a)  by omitting from sub-paragraph (iv) of paragraph (b) of sub-section
        (3) "or" (last occurring);

   (b)  by omitting from sub-paragraph (v) of paragraph (b) of sub-section (3)
        "and" (last occurring);

   (c)  by inserting after sub-paragraph (v) of paragraph (b) of sub-section
        (3) the following word and sub-paragraph:



"or (vi) the lessee acquired the property and entered into a contract or
arrangement with another person for the use of the property by that other
person; and";

   (d)  by omitting from sub-paragraph (ii) of paragraph (c) of sub-section
        (3) "or (v)" and substituting ",(v) or (vi)";

   (e)  by omitting from sub-paragraph (ii) of paragraph (c) of sub-section
        (3) "or to acquire and dispose of the property" and substituting ", to
        acquire and dispose of the property or to acquire the property and
        enter into a contract or arrangement as mentioned in sub-paragraph
        (vi) of that paragraph";

   (f)  by omitting from sub-paragraph (iii) of paragraph (b) of sub-section
        (4) "or" (last occurring);

   (g)  by omitting from sub-paragraph (iv) of paragraph (b) of sub-section
        (4) "and" (last occurring);

   (h)  by inserting after sub-paragraph (iv) of paragraph (b) of sub-section
        (4) the following word and sub-paragraph:



"or (v) the taxpayer acquired the property and entered into a contract or
arrangement with another person for the use of the property by that other
person; and"; and

   (j)  by omitting from paragraph (c) of sub-section (4) "or to acquire and
        dispose of the property" and substituting ", to acquire and dispose of
        the property or to acquire the property and enter into a contract or
        arrangement as mentioned in sub-paragraph (v) of that paragraph".

(2) The amendments made by sub-section (1) apply in relation to contracts or
arrangements entered into on or after 20 August 1979.