• Capital works begun before 27 February 1992 and used as described in table 43-140 of the ITAA 1997

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

    Multiply your construction expenditure by the applicable rate (either 4% if the capital works began after 21 August 1984 and before 16 September 1987 or 2.5% in any other case) and by the number of days in the income year in which the fund owned, leased or held your area and used it in a relevant way. Divide that amount by the number of days in the income year. See section 43-215 of the ITAA 1997.

    Apportion the amount if your area is used only partly to produce assessable income.

    The amount the fund claims cannot exceed the undeducted construction expenditure.

    Last modified: 15 Jul 2016QC 48112