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Notes Online Home 2022 Tax Schools Day 1 What’s new for Individuals
New ATO guidelines create major trap for taxpayers re-leasing assets (e.g., cars)
In this segment of the seminar notes we look at the major trap for taxpayers re-leasing assets under the new ATO guidelines. In more detail:
- What is a ‘bona fide’ lease for tax purposes?
- New ATO guidelines on how to calculate the minimum lease residual for re-leased assets
- Other characteristics that can jeopardise a lease qualifying as a ‘bona fide’ lease