Item 195: [Parts, repair equipment etc. Item 195: [Parts, repair equipment etc. for use in relation to certain leases]

Item 195: [Parts, repair equipment etc. for use in relation to certain leases]

(1) Goods that are covered by an agreement under subsection 15A(3) or (4) of the Assessment Act, where: (a) they are for use exclusively as mentioned in that subsection; and (b) the exempt percentage specified in the agreement is 100%. (2) Goods (the associated goods) where all the following conditions are met: (a) there is an eligible long‑term lease of other goods; (b) the associated goods are for use by the lessor exclusively: (i) as parts, accessories, fittings or attachments for the other goods; or (ii) so as to become an integral part of the other goods; (c) if that use were instead by the lessee or the sub‑lessee mentioned in paragraph (b) of the definition of eligible long‑term lease in section 5 of the Assessment Act, it would satisfy the exemption Item mentioned in that paragraph. (3) Goods (the repair equipment) where all the following conditions are met: (a) there is an eligible long‑term lease of other goods; (b) the repair equipment is for use by the lessor exclusively as equipment for repairing or maintaining the other goods; (c) if that use were instead by the lessee or the sub‑lessee mentioned in paragraph (b) of the definition of eligible long‑term lease in section 5 of the Assessment Act, it would satisfy one or more of exemption Items 1, 2, 18, 23, 28, 29, 30, 33, 34, 35, 36 and 38.