Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 43 - Deductions for capital works  

Subdivision 43-C - Your area and your construction expenditure  

Operative provisions

SECTION 43-125   Lessees' or right holders' pools can revert to owner  

43-125(1)    
An amount that relates to a ^* pool of construction expenditure that arises as a result of expenditure incurred by a lessee or a holder of a ^* quasi-ownership right over land:

(a) can only be deducted by a lessee or a holder of a quasi-ownership right over land who satisfies subsection 43-120(1) or (2); and

(b) cannot be deducted by the owner of the capital works while there is a lessee or a holder of a quasi-ownership right over land who satisfies that subsection.

43-125(2)    
The owner of the capital works may deduct an amount that relates to that pool if there is no longer a lessee or a holder of a ^* quasi-ownership right over land who satisfies subsection 43-120(1) or (2).