20‑100 What this Subdivision is about20‑100 What this Subdivision is about

#### 20‑100 What this Subdivision is about This Subdivision reverses the effect of deductions for lease payments for a car leased to you (or to your associate), but only if you make a profit by disposing of the car after acquiring it from the lessor. The smallest of these amounts is included in your assessable income:  your profit on the disposal;  the total deductible lease payments for the period of the lease;  the total amounts you could have deducted for the car’s decline in value if, instead of leasing it, you had owned it and used it solely for the purpose of producing assessable income. Table of sections 20‑105 Map of this Subdivision The usual case 20‑110 Disposal of a leased car for profit 20‑115 Working out the profit on the disposal 20‑120 Meaning of notional depreciation The associate case 20‑125 Disposal of a leased car for profit Successive leases 20‑130 Successive leases Previous disposals of the car 20‑135 No amount included if earlier disposal for market value 20‑140 Reducing the amount to be included if there has been an earlier disposal Miscellaneous rules 20‑145 No amount included if you inherited the car 20‑150 Reducing the amount to be included if another provision requires you to include an amount for the disposal 20‑155 Exception for particular cars taken on hire 20‑157 Exception for small business entities Disposals of interests in a car: special rules apply 20‑160 Disposal of an interest in a car