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-G
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Undeducted construction expenditure
Operative provisions
SECTION 43-230
Calculating undeducted construction expenditure
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common step
43-230(1)
Identify the date when the capital works began.
If you are calculating a deduction under Subdivision 43-F , identify the period ( use period ) that:
(a) started when * your area, or a part of it, was first used by any entity for any purpose after completion of the relevant construction; and
(b) ended at the end of the preceding income year or, if you acquired your area during the income year, at the end of the day before the time of the acquisition. 43-230(3)
If you are calculating a deduction under Subdivision 43-H , identify the period ( use period ) that started at the time described in paragraph (2)(a) and ended at the time of the destruction.
Identify the date when the capital works began.
Note 1:
The date determines whether your calculation is to be made under section 43-235 (for post-26/2/92 expenditure) or 43-240 (for pre-27/2/92 expenditure).
Note 2:
Section 43-80 explains when capital works begin.
43-230(2)If you are calculating a deduction under Subdivision 43-F , identify the period ( use period ) that:
(a) started when * your area, or a part of it, was first used by any entity for any purpose after completion of the relevant construction; and
(b) ended at the end of the preceding income year or, if you acquired your area during the income year, at the end of the day before the time of the acquisition. 43-230(3)
If you are calculating a deduction under Subdivision 43-H , identify the period ( use period ) that started at the time described in paragraph (2)(a) and ended at the time of the destruction.
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