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  • Cost base
    Attention

    Warning:

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

    End of attention

    You must exclude from the cost base the amount of capital works deductions you claimed or were entitled to claim for a building, other structure or improvement if:

    • for property (including vacant land) you acquired before 20 September 1985, the capital works deductions were for a building or other structure constructed on the property after 13 May 1997
    • for property (including vacant land) you acquired before 20 September 1985, the capital works deductions were for improvements (such as renovations) made to the property after 13 May 1997 and the cost base of the improvements is more than:
      •  the improvement threshold for the income year in which the property was disposed of, and
      • 5% of the proceeds received from the sale of the property
       
    • for property (including vacant land) you acquired during the period 20 September 1985 to 13 May 1997, the capital works deductions were for a building, other structure or improvements constructed on the property after 30 June 1999
    • for property (including vacant land) you acquired after 13 May 1997, the capital works deductions were for a building, other structure or improvements constructed on the property at any time.
    Last modified: 25 Feb 2020QC 27448