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Finance Act 2013

Section 143 – Financial Institutions acquiring dwellings in the course of lending

255.Subsection (1) says that a day is relievable if a financial institution is entitled to the single dwelling interest as a result of it carrying on lending activities and it has the intention of reselling the interest without delay (except delay justified by commercial considerations).

256.Subsection (2) restricts this so, that renting to a non-qualifying disqualifies the owner from the relief.

257.Subsection (3) defines a “financial institution” in terms of the meaning given by section 564B of ITA 2007.

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