Overview Part 1: New Part 11A of ITA 2007 Section 614DD: Assets which represent the leased asset
921.This section defines assets which represent leased assets. It is based on paragraph 26 of Schedule 12 to FA 1997.
922.The purpose is to identify assets which in economic terms are essentially the same asset, in whole or in part, as the leased asset. Part 11A provides broadly that transactions in such assets are treated as transactions involving the leased asset itself.