Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 132.5

Lessor pays lessee for improvements

    The fourth element of the * cost base and * reduced cost base of property that was subject to a lease includes any payment (because of the lease expiring or being surrendered or forfeited) by the lessor to the lessee for expenditure of a capital nature incurred by the lessee in making improvements to the lease property.

    The payment or expenditure can include giving property: see section   103 - 5.



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