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  • Construction expenditure area



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    The construction of the capital works must be complete before the construction expenditure area is determined. A separate construction expenditure area is created each time an entity undertakes the construction of capital works.

    The construction expenditure area for capital works that started after 30 June 1997 is the part of the capital works on which the construction expenditure was incurred by a fund that, at the time it was incurred, was to be owned, leased or held (under of quasi-ownership rights) by the fund.

    For construction area expenditure before 1 July 1997, the capital works must have been intended for use for a certain specified purpose at the time of completion. The type of capital works and the intended use on completion depends on the time when the capital works commenced. The first specified use construction time was 22 August 1979; see the table at section 43-90 and subsection 43-75(2) of the ITAA 1997.

    Last modified: 13 Feb 2019QC 40267