This final Taxation Ruling was issued on 1 November 2006. It was previously released in draft form as TR 2006/D5: see 2006 TAXVINE No 11 (8) (7 April 2006). The Ruling concerns financing arrangements taking the form of sale and leaseback arrangements. The Ruling explains the taxation consequences of sale and leaseback arrangements which involve depreciating assets subject to Division 40 of the ITAA 1997.
As a result of the issued of TR 2006/13, Taxation Ruling TR 95/30 (Income tax: sale and leasebacks) is withdrawn with effect from 1 November 2006.
For a copy of TR 2006/13, go here
For a copy of TR 95/30W, go here