BLM20020 - Defining long funding leases: introduction: location of principal legislation

»Ê¹ÚÌåÓýapp principal rules for identifying and taxing long funding leases are located in

  • sections 70A to 70YI CAA 2001

»Ê¹ÚÌåÓýappse sections define long funding leases and enable capital allowances to be claimed by long funding lessees. »Ê¹ÚÌåÓýappy also include machinery provisions concerned with the transfer of leases, extension of lease terms and various anti-avoidance provisions.

  • sections 360 to 381 CTA 2010

»Ê¹ÚÌåÓýappse sections deal with the non capital allowance aspects of the regime for companies, principally dealing with the taxation of rental income and deductions for rentals payable.

  • sections 148A to 148J ITTOIA 2005

»Ê¹ÚÌåÓýappse sections are the income tax equivalent of sections 360 to 381 CTA 2010.

  • Part 4 of Schedule 8, FA 2006

Part 4 of Schedule 8 contains the transitional and commencement provisions. It also contains the power for the Treasury to make regulations allowing lessors to elect in to the long funding lease regime.