• Cost base

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    • If you acquired the rental property after 13 May 1997 (this includes vacant land you acquired after 13 May 1997 on which rental premises were later constructed), the amount of the capital works deductions you claimed, or were entitled to claim, during the period you owned the property is excluded from the CGT cost base.
    • If you acquired land before 13 May 1997 and incurred construction expenditure on a rental property after 30 June 1999, the amount of the capital works deductions you claimed, or were entitled to claim, for the construction during the period you owned the property is excluded from the CGT cost base.
    • If you acquired a rental property before 13 May 1997 and incurred construction expenditure on the property after 30 June 1999, the amount of the capital works deductions you claimed, or were entitled to claim, for the construction is excluded from the CGT cost base.
    Last modified: 18 Jul 2008QC 16578