Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-10
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CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Division 43
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Deductions for capital works
Subdivision 43-E
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Special rules about uses
Operative provisions
SECTION 43-175
Own use
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hotel and apartment buildings
43-175(1)
An entity is taken not to have used a bedroom in a * hotel building, or an apartment, unit or flat in an * apartment building, for the * purpose of producing assessable income at a time if, at that time, the bedroom, apartment, unit or flat is used, or reserved for use, by:
(a) the entity; or
(b) if the entity is a partnership - any of the partners in the partnership.
Also, an entity is taken not to use a bedroom in a * hotel building, or an apartment, unit or flat in an * apartment building for any purpose at a time if:
(a) at that time, a *right to use or a right to occupy the bedroom, apartment, unit or flat was vested in the entity; and
(b) that right was vested in the entity because the entity was, at that time, a member of a company, a beneficiary of a trust estate or a partner in a partnership.
An entity is taken not to have used a bedroom in a * hotel building, or an apartment, unit or flat in an * apartment building, for the * purpose of producing assessable income at a time if, at that time, the bedroom, apartment, unit or flat is used, or reserved for use, by:
(a) the entity; or
(b) if the entity is a partnership - any of the partners in the partnership.
Note:
This subsection affects Tables 43-140 and 43-145 .
43-175(2)Also, an entity is taken not to use a bedroom in a * hotel building, or an apartment, unit or flat in an * apartment building for any purpose at a time if:
(a) at that time, a *right to use or a right to occupy the bedroom, apartment, unit or flat was vested in the entity; and
(b) that right was vested in the entity because the entity was, at that time, a member of a company, a beneficiary of a trust estate or a partner in a partnership.
Note:
This subsection affects Tables 43-90 , 43-140 and 43-145 .
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