Document ID: chunk:federal_register_of_legislation:C2004C01190:clause:2_454
Version: federal_register_of_legislation:C2004C01190
Segment Type: clause
Provision Reference: sch 2 cl 454
Character Range: 216598–217184

454  Subsection 995‑1(1) (definition of short‑term hire agreement)
Repeal the definition, substitute:

short‑term hire agreement: a short‑term hire agreement is an agreement for the intermittent hire of an asset on an hourly, daily, weekly or monthly basis. However, an agreement for the hire of an asset is not a short‑term hire agreement if, having regard to any other agreements for the hire of the same asset to the same taxpayer or an *associate of that taxpayer, there is a substantial continuity of hiring so that the agreements together are for longer than a short‑term basis.