Section EW 33 — Income Tax Act 2007: Consideration for hire purchase agreement or finance lease

EW 33 Consideration for hire purchase agreement or finance lease When this section applies (1) This section applies when a party to a hire purchase agreement or a finance lease pays or is paid consideration for the agreement or lease. Consideration (2) The consideration for a hire purchase agreement or a finance lease includes expenditure or loss incurred by the lessor in preparing and installing the hire purchase asset or personal property lease asset for use to the extent to which it is not taken into account under section EW 32 . Defined in this Act: consideration , finance lease , hire purchase agreement , hire purchase asset , pay , personal property lease asset , lessor , Compare: 2004 No 35 s EW 33