Establishing the deduction base
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The fund can deduct expenditure for the construction of capital works if there is a construction expenditure area for the capital works.
Whether there is such an area and how it is identified depends on:
Last modified: 05 Nov 2014QC 40267
- the type of expenditure incurred
- the time the capital works commenced
- the area of the capital works to be owned, leased or held by the entity that incurred the expenditure
- for capital works begun before 1 July 1997, the area of the capital works that was to be used in a particular manner, see section 43-90 of the ITAA 1997.