Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p28
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 28/51)
Character Range: 81153–83792

relation to a Crown lease, means a person who is a lessee
within the meaning of section 54AA;".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 38
Application

  38. The amendments made by this Division apply in relation to expenditure
incurred in respect of the construction of a building, or an extension,
alteration or improvement to a building, if the construction commenced after
26 February 1992.

Division 13 - Amendments to deem the lessee of property installed on
leased Crown land to be the owner for the purposes of the development
allowance provisions

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 39
Interpretation

  39. Section 82AQ of the Principal Act is amended by inserting after
subsection (3) the following subsections:
  "(3A) If:
  (a) a taxpayer is the lessee of land under a Crown lease; and
  (b) a unit of property is affixed to the land; and
  (c) because of section 54AA, the provisions of this Act relating to
depreciation apply as if the taxpayer were the owner of the property instead
of any other person;
this Subdivision applies as if the taxpayer were the owner of the property
instead of any other person.
  "(3B) In subsection (3A):
  'Crown lease' has the same meaning as in section 54AA;
  'lessee' has the same meaning as in section 54AA.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 40
Application

  40. The amendment made by this Division applies to expenditure incurred by a
taxpayer:
  (a) in respect of the acquisition of a unit of property under a contract
entered into after 26 February 1992; or
  (b) in respect of the construction of a unit of property where the
construction commenced after 26 February 1992.

Division 14 - Amendments relating to roll-over relief where deductions
allowed for research and development under section 73B

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 41

  41. Section 59 of the Principal Act is amended:
  (a) by omitting from subsection (2AA) "For" and substituting "Subject to
subsection (2AB), for";
  (b) by inserting after subsection (2AA) the following subsection:
  "(2AB) If:
  (a) property of a taxpayer was acquired as the result of a disposal to which
section 58 or 73E applied; and
  (b) either:
    (i) a deduction or deductions has or have been allowed or
allowable to the transferor concerned under section 73B in relation to the
property; or
    (ii) if the disposal of the property to the taxpayer was the last
of a series of 2 or more successive transfers of the property to which either
one of section 58 or 73E has applied (whether alternately or otherwise) -