Document ID: chunk:federal_register_of_legislation:C2025C00014:section:262a:p5
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 262A (pt 5/7)
Character Range: 1807268–1809952

loss or destruction of the property.
 (4AF) If:
 (a) a person (the transferor) disposes of, or of a lease of, any part of a building within the meaning of former Division 10C of Part III to another person (the transferee); and
 (b) either:
 (i) one or more deductions have been allowed to the transferor under former subsection 124ZC(2A) or (4A) in respect of qualifying hotel expenditure or qualifying apartment expenditure in respect of the building; or
 (ii) if there have been one or more prior successive owners or lessees of the building—one or more deductions have been allowed to any of the prior successive owners or lessees under former subsection 124ZC(2A) or (4A) in respect of qualifying hotel expenditure or qualifying apartment expenditure in respect of the building;
then:
 (c) the transferor must give to the transferee, within the period specified in subsection (4AG), a notice containing such information about the transferor's holding or lease of the building as will enable the transferee to work out how former Division 10C of Part III applies to the transferee's holding or lease of the building; and
 (d) the transferee must retain the notice, or a copy, until the end of 5 years after the earlier of:
 (i) the transferee ceasing to be the owner or lessee of the part of the building; or
 (ii) the destruction of the building.
 (4AG) The notice referred to in subsection (4AF) must be given within 6 months after the later of the following:
 (a) the end of the year of income of the transferee in which the disposal occurred;
 (b) the commencement of subsection (4AF);
or within such further period as the Commissioner allows.
 (4AH) If:
 (a) a person (the transferor) disposes of, or of a lease of, any part of a building within the meaning of former Division 10D of Part III to another person (the transferee); and
 (b) either:
 (i) one or more deductions have been allowed to the transferor under former subsection 124ZH(2A) in respect of qualifying expenditure in respect of the building; or
 (ii) if there have been one or more prior successive owners or lessees of the building—one or more deductions have been allowed to any of the prior successive owners or lessees under former subsection 124ZH(2A) in respect of qualifying expenditure in respect of the building;
then:
 (c) the transferor must give to the transferee, within the period specified in subsection (4AJ), a notice containing such information about the transferor's holding or lease of the building as will enable the transferee to work out how former Division 10D of Part III applies to the transferee's holding or lease of the building; and
 (d) the transferee must retain the notice, or