Statute
Section FA 8 — Income Tax Act 2007: Deductibility of expenditure under finance lease
Text of the provision Official document
FA 8 Deductibility of expenditure under finance lease Lessee treated as owner (1) The lessee under a finance lease is treated as the owner of the personal property lease asset for the purposes of subpart EE (Depreciation). Lessor not treated as owner (2) The lessor under a finance lease is not treated as the owner of the personal property lease asset for the purposes of subpart EE . Defined in this Act: finance lease , lessee , lessor , personal property lease asset , Compare: 2004 No 35 s FC 8B(1)
Official source: legislation.govt.nz
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