Fund income tax return instructions 2011

Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

Capital works begun after 26 February 1992

Calculate the deduction separately for each part of capital works that meets the description of your area.

There is a basic entitlement to a rate of 2.5% for parts used as described in table 43-140 Current year use. The rate increases to 4% for parts used as described in table 43-145 Use in the 4% manner.

Sections within Appendix 1: Capital works deductions

Capital works
Who can claim?
Lessee of a building
Requirement for deductibility
No deduction until construction is complete
Establishing the deduction base
Construction expenditure
Construction expenditure area
Pool of construction expenditure
Deductible use
Special rules about uses
Calculation and rate of deduction
Capital works begun before 27 February 1992 and used as described in table 43-140 of the ITAA 1997
Capital works begun after 26 February 1992
Undeducted construction expenditure
Balancing deduction on destruction

Last Modified: Wednesday, 11 January 2012