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-A - Key operative provisions  

Operative provisions

SECTION 43-25   Rate of deduction  

43-25(1)  

For capital works begun after 26 February 1992, there is a basic entitlement to a rate of 2.5% for parts used as described in Table 43-140 (Current year use). The rate increases to 4% for parts used as described in Table 43-145 (Use in the 4% manner).

43-25(2)  

For capital works begun before 27 February 1992 and used as described in Table 43-140, the rate is:

(a) 4% if the capital works were begun after 21 August 1984 and before 16 September 1987; or

(b) 2.5% in any other case.

Note:

Section 43-80 explains when capital works begin.