Private ruling: Will company leases meet the definition of a Crown lease
Published: October 2013

Ruling: The ruling concerned the following: | Will the Company's existing leases and proposed leases meet the definition of a Crown lease under paragraph 124-580(a) of the Income Tax Assessment Act 1997 (ITAA 1997) for the purposes of the replacement asset roll-over provision under Subdivision 124-J of the ITAA 1997? | Decision | The Commissioner ruled that: | Yes. The Company's existing and proposed leases each meet the definition of a Crown Lease under paragraph 124-580(a) of the Income Tax Assessment Act 1997 .