Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 41.85

(1) This section applies if:

   (a)  amounts are deductible by you in respect of property under the rules
        for the *capital allowance; and

   (b)  you are not the owner of the property for the purposes of an
        anti-avoidance provision listed in subsection (3).

(2) That anti-avoidance provision, to the extent that it relates to deductions
under the rules for the *capital allowance, applies as if you were the owner
of the property instead of any other person.

(3) The anti-avoidance provisions that subsection (1) refers to are the
following:

   (a)  section 51AD (Deductions not allowable in respect of property under
        certain leveraged arrangements) of the Income Tax Assessment Act  1936
        ;

   (b)  Division 16D (Certain arrangements relating to the use of property) of
        Part III of the Income Tax Assessment Act 1936.

[The next Division is Division 43.]