Income Tax Act 2007 section 614DC

Connected persons

Section 614DC establishes how connected person status is determined for the purposes of leasing arrangement provisions, treating any connection at any point during the relevant period as a connection throughout the entire period.

• If two persons are connected at any time during the relevant period, they are treated as connected throughout that entire period for leasing arrangement purposes.
• The relevant period begins when the earliest of any of the leasing arrangements were first made.
• The relevant period ends when the current lessor finally ceases to have any interest in the asset or any related arrangements.
• The general definition of connected persons under section 993 of ITA 2007 applies unless otherwise indicated.