15AMeaning of eligible short‑term lease etc.

#### 15A Meaning of eligible short‑term lease etc. (1) A lease of goods is an eligible short‑term lease if the goods are covered by an agreement under subsection (2). (2) The Commissioner and a person (the lessor) who grants leases of goods in the course of a business may agree on a percentage (other than nil) as the exempt percentage in relation to goods of a particular kind. The percentage agreed on must be the percentage of the statutory period during which it is agreed to be likely that the goods will be used by the lessor for lease (other than eligible long‑term lease) to persons who, or whose sub‑lessees, intend to use the goods during the whole of the term of the lease or sub‑lease so as to satisfy one or more exemption Items. (3) The Commissioner and the lessor may agree on a percentage (other than nil) as the exempt percentage in relation to goods (the associated goods) of a particular kind that are for use by the lessor exclusively: (a) as parts, accessories, fittings or attachments for goods that are covered by an agreement with the lessor under subsection (2); or (b) so as to become an integral part of goods that are covered by such an agreement. The percentage agreed on must be the percentage of the statutory period during which it is agreed to be likely that the use of the associated goods as mentioned in paragraph (a) or (b) will satisfy one or more exemption Items. (4) The Commissioner and the lessor may, subject to subsection (5), agree on a percentage as the exempt percentage in relation to goods of a particular kind that are for use by the lessor exclusively for repairing or maintaining other goods that are: (a) covered by an agreement with the lessor under subsection (2); and (b) for use so as to satisfy one or more of exemption Items 1, 2, 18, 23, 28, 29, 30, 33, 34, 35, 36 and 38. The percentage agreed on must be the percentage of the statutory period during which it is agreed to be likely that the other goods will satisfy the requirements of paragraphs (a) and (b). (5) The Commissioner and the lessor must not make an agreement under subsection (4) unless the percentage to be specified is greater than 50%. (6) An agreement under this section may include conditions that are to be complied with for the agreement to have effect.