Private ruling: Application of section 102M of the Income Tax Assessment Act 1936
Date of advice: 12 February 2019
Published: May 2019

Ruling: Q1: Will the Lessee’s investment in various leases of land under the arrangement be considered ‘investing in land’ for the purposes of paragraph (a) of the definition of ‘eligible investment business’ in section 102M of the Income Tax Assessment Act 1936 ? | A1: Yes | Q2: Will the rent received by the Lessee in respect of various leases of land be considered ‘rent’ for the purposes of paragraph (a) of the definition of ‘eligible investment business’ in section 102M of the Income Tax Assessment Act 1936 ? | A2: Yes

Relevant facts and circumstances: The taxpayer (the Lessee) applied for a private ruling on the tax consequences, pursuant to section 102M of the Income Tax Assessment Act 1936 , arising from an arrangement involving the divestment of a commercial operation.



Relevant legislative provision(s): Income Tax Assessment Act 1936 section 102M