ATO Rulings and Determinations
Taxable Australian property: leases
29.04.2009
A draft determination has been issued which considers the issue whether the expression “real property” in the definition of taxable Australian property (sec 885-20 ITAA 1997) includes a leasehold interest in land (TR 2009/D1).
The view is taken that, having regard to the objects and context of Div 855 ITAA 1997, it is clear that real property in sec 855-20(a) ITAA 1997 is intended to have a meaning that includes leasehold interests in land. It is noted that evidence of this intention can be found within Div 855 ITAA 1997 and from its surrounding context.
