Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 15.25

                   Your assessable income includes an amount you receive from an entity if:

                     (a)  you receive it as a lessor or former lessor of premises; and

                     (b)  the entity pays you the amount for failing to comply with a lease obligation to make repairs to the premises; and

                     (c)  the entity uses or has used the premises for the * purpose of producing assessable income; and

                     (d)  the amount is not assessable as * ordinary income under section 6-5.

Note:          The entity can deduct the amount: see section 25-15.