DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)

CHAPTER 2 - DEVELOPMENT ALLOWANCE  

PART 1 - PRELIMINARY  

SECTION 4 (ARCHIVE)  

4   SIMPLIFIED OUTLINE OF SCHEME OF ACT  
The following is a simplified outline of the scheme of this Chapter:

(a) an entity may apply for registration of plant expenditure incurred, or proposed to be incurred, by the entity in carrying out a project in Australia;

(b) the Development Allowance Authority (`` DAA '') will register the expenditure if certain criteria are satisfied;

(c) if the expenditure is in respect of the acquisition or construction of plant - the DAA will issue a certificate pre-qualifying the expenditure for the tax incentive known as development allowance if:

(i) the expenditure has been registered; and

(ii) a substantial commitment to the completion of the project has occurred before 1 July 1996; and

(iii) certain other criteria are satisfied;

(d) if the expenditure is in respect of the lease of plant - the DAA will issue a certificate pre-qualifying the lessor's expenditure for the tax incentive known as development allowance if:

(i) the lessee's expenditure has been registered; and

(ii) a substantial commitment to the completion of the project has occurred before 1 July 1996; and

(iii) certain other criteria are satisfied.