Private ruling: Application of subsection 43-50(3) of the Income Tax Assessment Act 1997
Date of advice: 21 February 2019
Published: May 2019

Ruling: Q1: Will subsection 43-50(3) of the Income Tax Assessment Act 1997 treat the Lessee to be the owner of capital works (being capital works to which Division 43 of the ITAA 1997 applies) affixed to the land leased to the Lessee under Lease 1 and Lease 2? | A1: Yes

Relevant facts and circumstances: The taxpayer (the Lessee) applied for a private ruling on the tax consequences, pursuant to subsection 43-50(3) of the Income Tax Assessment Act 1997 , arising from an arrangement involving the divestment of a commercial operation.



Relevant legislative provision(s): Income Tax Assessment Act 1997 subsection 43-50(3)