Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p27
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 27/51)
Character Range: 78728–81372

of this section, a person is an eligible government
body at a particular time if:
  (a) the person is the Commonwealth, a State or a Territory; or
  (b) both:
    (i) the person is an authority of the Commonwealth, a State or a
Territory; and
    (ii) assuming that the authority had derived income at that time,
that income would be exempt from tax because of a relevant exempting provision
(within the meaning of section 160K); or
  (c) the person is the government of, or of a part of, a foreign country; or
  (d) both:
    (i) the person is an authority of the government of a foreign
country or an authority of the government of a part of a foreign country; and
    (ii) the authority is of a similar nature to an authority covered
by paragraph (b).";
  (e) by omitting from subsection (8) the definition of "Crown lease" and
substituting the following definition:
  "'Crown lease' means:
  (a) a lease of land granted by an eligible government body; or
  (b) an easement in connection with land, where the easement was granted by
an eligible government body; or
  (c) any other right, power or privilege over, or in connection with, land,
where the right, power or privilege was granted by an eligible government
body;";
  (f) by inserting in subsection (8) the following definitions:
  "'eligible government body' has the meaning given by subsection (7A);
  'lessee', in relation to a Crown lease, means the holder of the Crown
lease;
  'lessor', in relation to a Crown lease, means:
  (a) the eligible government body which granted the Crown lease; or
  (b) if the interests of the grantor in relation to the Crown lease are held
by another person - that other person;".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 36
Application

  36. Section 38 of the Taxation Laws Amendment Act (No. 3) 1992 has, and is
taken to have had, effect as if the amendments made by this Division had been
made by that Act.

Division 12 - Amendments to extend the concept of eligible lessees for
the purposes of the provisions relating to deductions for capital
expenditure on buildings and structural improvements

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 37
Interpretation

  37. Section 124ZF of the Principal Act is amended by inserting the following
definitions in subsection (1):
  "'Crown lease' has the same meaning as in section 54AA;
  'lease' includes a Crown lease;
  'lessee', in 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