Respondents are required to provide an overview of the material taxation issues arising in relation to the Project, including a summary of the tax conclusions, and the basis on which they are derived, in relation to:
• the application of the tax exempt leasing provisions of Division 250 of the Income Tax Assessment Act 1997 (Cth) (ITAA 1997) (Division 250);
• the availability of capital allowances and capital works deductions under Division 40 and Division 43 respectively of the ITAA 1997;
• the application of the Australian income tax debt/equity rules in Division 974 of the ITAA 1997 to each source/type of funding, including consideration of Division 974-80 where relevant;
• the deductibility of interest, including the application of the Australian thin capitalisation provisions in Division 820 of the ITAA 1997 (Division 820), including the impact of any instruments supporting equity commitments (if any);
• any issues that will be the subject of a Tax Ruling from the ATO and the financial implications if the ruling is not granted;
• [the tax treatment of any State Contribution; and]
• any other unusual tax treatments, material taxation risks and mitigation strategies to be employed.