DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 2 - KEY CONCEPTS RELATING TO PROJECTS  

Division 9 - Specification of project and specification of plant expenditure  

SECTION 24 (ARCHIVE)   SPECIFICATION OF PROJECT AND SPECIFICATION OF PLANT EXPENDITURE  

24(1)   Documents to which this section applies.  

This section applies to the following documents:

(a) an application made by an entity under this Chapter;

(b) a registration;

(c) a certificate.

24(2)   Specification of project.  

The specification of a project in a document must be sufficiently detailed so as to enable the project, and the constituent elements of the project, to be clearly identified.

24(3)   Specification of plant expenditure.  

The specification of plant expenditure in a document:

(a) must be made by reference to a description of the nature, use, proposed use or other attributes of the unit or units of plant concerned (whether that description relates to individual units of plant or to units of plant included in a particular class of units of plant); and

(b) must not be made by reference to a dollar amount.

24(4)   Example of specification of plant expenditure.  

The following is an example of the specification of plant expenditure in a case involving a project consisting of the establishment of a combined office block/hotel where:

(a) some units of plant (such as hotel furniture and fittings) are exclusively for use in the hotel; and

(b) other units of plant (such as central air-conditioning plant) are for use in connection with both the office accommodation and the hotel.

Example:

Specification of plant expenditure covered by paragraph (a)

``Expenditure proposed to be incurred in respect of the acquisition of the new units of plant described in Part A of the Schedule to this [ document], where the expenditure is proposed to be incurred in carrying out the [ specified] project''.

Plant expenditure covered by paragraph (b)

``So much of the expenditure proposed to be incurred in respect of the acquisition of the new units of plant described in Part B of the Schedule to this [ document] as is attributable to the [ specified hotel part], where the expenditure is proposed to be incurred in carrying out the [ specified] project''.