Private ruling: Application of section 12-440 of Schedule 1 to the Taxation Administration Act 1953
Date of advice: 12 June 2020
Published: July 2020

Ruling: Q1: Was the Asset Trust, before 27 March 2018, the lessee of a facility for the purposes of subparagraph 12-440(2)(a)(ii) of Schedule 1 to the Taxation Administration Act 1953 ( TAA 1953 )? | A1: Yes | Q2: If the answer to question 1 is "yes", is that facility an economic infrastructure facility as defined in subsection 12-439(5) of Schedule 1 to the TAA 1953? | A2: Yes | Q3: If the answer to question 1 is "yes", will the assets comprising the New Project constitute an enhancement to that facility, such that it is not relevantly a new facility for the purposes of section 12-440 of Schedule 1 to the TAA 1953? | A3: Yes

Relevant facts and circumstances: The taxpayer (the Asset Trust) applied for a private ruling on the application of the transitional rules in section 12-440 of Schedule 1 to the TAA 1953.

Relevant legislative provisions: Subsection 12-439(5) of Schedule 1 to the TAA 1953 | Section 12-440 of Schedule 1 to the TAA 1953