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Taxation Ruling TR 1999/18 is withdrawn with effect from today.

Changes made to paragraphs 104-10(5)(b) and 104-25(5)(b) of Income Tax Assessment Act 1997 after the issue of the ruling, that apply to assessments for the 1998-99 and later income years, recognise a lessor's rights under a lease as an asset for CGT purposes. Consequently the views expressed in the Ruling are being reconsidered.