Document ID: chunk:federal_register_of_legislation:C2018C00042:section:55
Version: federal_register_of_legislation:C2018C00042
Segment Type: section
Provision Reference: s 55
Character Range: 53110–53926

55  Modification of capital allowances and capital gains tax provisions
 (1) This section applies if:
 (a) a company is granted an airport lease under section 21; and
 (b) the company's sale time does not occur within 7 days after the grant.
 (2) The regulations may provide that:
 (a) the provisions of the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 relating to depreciation or capital allowances; and
 (b) the provisions of either of those Acts relating to capital gains and capital losses;
apply in relation to:
 (c) the airport lease; and
 (d) assets transferred or leased to the company under section 23, 24, 30 or 31;
subject to such modifications as are specified in the regulations.

Part 9—Transfer of staff from the FAC to airport‑lessee companies

Division 1—Simplified outline