Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.32

  (1)   This Division does not apply to:

  (a)   an asset that is used (or held for use) wholly or principally for private or domestic purposes; or

  (b)   a * non - debt liability that is wholly or principally of a private or domestic nature.

  (2)   Subsection   (1) does not apply in relation to the following:

  (a)   Subdivision   820 - EAA;

  (b)   any other provision in this Division, to the extent that it relates to that Subdivision.