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 43-10   Deductions for capital works  

43-10(1)    
You can deduct an amount for capital works for an income year.

43-10(2)    
You can only deduct the amount if:


(a) the capital works have a * construction expenditure area; and


(b) there is a * pool of construction expenditure for that area; and


(c) you use * your area in the income year in the way set out in Table 43-140 (Current year use).

Note 1:

The deduction is limited to capital works to which this Division applies, see section 43-20 .

Note 2:

Amongst other things, the definition of your area ensures that only owners and certain lessees of capital works, and certain holders of quasi-ownership rights over land on which capital works are constructed, can deduct an amount under this Division.



View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.