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INCOME TAX ASSESSMENT ACT 1997 - SECT 240.70 Arrangement payment periods

INCOME TAX ASSESSMENT ACT 1997 - SECT 240.70

Arrangement payment periods

  (1)   An * arrangement payment period is a period for which a payment under the * arrangement is allocated or expressed to be payable.

  (2)   However, if a period exceeds 6 months, the period is not an * arrangement payment period but each of the following parts of the period is a separate arrangement payment period:

  (a)   the part of the period beginning at the start of that period and ending 6 months later;

  (b)   each part of the period:

  (i)   beginning immediately after a part of the period that is an arrangement payment period under paragraph   (a) or under a previous application of this paragraph; and

  (ii)   ending 6 months after the start of that later part or at the end of the period, whichever first occurs.

Table of sections

Operative provisions

240 - 75   When is the end of the arrangement?

240 - 80   What happens if the arrangement is extended or renewed

240 - 85   What happens if an amount is paid by or on behalf of the notional buyer to acquire the property

240 - 90   What happens if the notional buyer ceases to have the right to use the property

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