Income Tax Assessment Act 1997
There will be a separate * your area at each time in an income year when you:
(a) acquire an additional part of a * construction expenditure area; or
(b) dispose of some but not all of a construction expenditure area.
You own half of a building (part A) throughout the income year, and you acquire the other half (part B) on 1 January. This section ensures that part A is your area for the entire year and that part B is your area for the second 6 months of the year.
This ensures that the same area is not counted twice in calculating your deduction. You will have to make separate deduction calculations if you have identified more than one area as your area of the capital works.