Commentary

B6.308 Sales with leasebacks within 50 years

Business tax
Business tax | Commentary

B6.308 Sales with leasebacks within 50 years

Business tax | Commentary

B6.308 Sales with leasebacks within 50 years

A similar set of rules to those described in B6.301 applies if:

  1.  

    (a)     an estate or interest in land is sold subject to terms that provide for a lease to be granted directly out of the estate or interest to the seller or a person connected with the seller;

  2.  

    (b)     the earliest possible date for the lease to be granted would be within 50 years of the sale;

  3.  

    (c)     the lease does not actually commence within one month of the sale; and

  4.  

    (d)     the sale price exceeds the sum of:

    1.  

      (1)     the premium

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial