Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 415 - Designated infrastructure projects  

Subdivision 415-C - Designating infrastructure projects  

Infrastructure project capital expenditure cap

SECTION 415-75   Infrastructure project capital expenditure cap  

415-75(1)    
Provisional designation, or designation, of the infrastructure project would breach the * infrastructure project capital expenditure cap under this section if, were the provisional designation or designation to occur, the total of the estimates accepted under section 415-80 for each infrastructure project that, just after the provisional designation or designation, would be:

(a) a * provisionally designated infrastructure project; or

(b) a * designated infrastructure project;

would exceed the amount mentioned in subsection (2).

415-75(2)    
The amount is:

(a) $ 25 billion; or

(b) if the * infrastructure project designation rules prescribe a greater amount - that prescribed amount.

415-75(3)    
For the purposes of subsection (1), disregard so much of the amount of an estimate for an infrastructure project (the listed infrastructure project ) as relates to a part of the listed infrastructure project, if:

(a) that part of the listed project is (or would be, were the provisional designation or designation mentioned in that subsection to occur):

(i) a * provisionally designated infrastructure project; or

(ii) a * designated infrastructure project; and

(b) the listed infrastructure project is included on an Infrastructure Priority List.

Note:

For Infrastructure Priority Lists, see paragraph 5(b) of the Infrastructure Australia Act 2008 .

415-75(4)    
In this Act:

infrastructure project capital expenditure
:

(a) has the meaning given by the * infrastructure project designation rules; or

(b) if the infrastructure project designation rules do not give infrastructure project capital expenditure a meaning - means capital expenditure.