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-E - Special rules about uses  

Operative provisions

SECTION 43-170   Own use - capital works other than hotel and apartment buildings  

43-170(1)  


A part of capital works, other than a *hotel building or an *apartment building, is taken not to be used for the *purpose of producing assessable income if that part is for use mainly for, or in association with, residential accommodation by you or an *associate.

43-170(2)  


Subsection (1) does not apply to use by an *associate under an *arrangement:


(a) to which you and the associate are parties; and


(b) that is of a kind that the parties could reasonably be expected to have entered into if they had been dealing with each other at *arm's length; and


(c) that was not entered into for the purpose of obtaining a deduction under this Division.

43-170(3)  


If property that constitutes the whole or part of capital works, other than a *hotel building or an *apartment building, is part of an individual's home, the property is taken to be used, or for use, wholly or mainly for or in association with residential accommodation.

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