Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 26 - Some amounts you cannot deduct, or cannot deduct in full  

Operative provisions  

SECTION 26-160   Meaning of residential dwelling and new residential dwelling  
Meaning of residential dwelling

26-160(1)    
A residential dwelling means a * dwelling other than any of the following:

(a)    a caravan, mobile tiny home, or other mobile home;

(b)    a hotel, motel, inn, hostel or boarding house;

(c)    a dwelling providing accommodation to students in connection with a school or an education institution that is not a school;

(d)    a boat or other marine vessel.

26-160(2)    
For the purposes of subsection (1) , a residential dwelling is taken to include any of the following things to the extent that the thing is available for use by an occupant of the * dwelling:

(a)    land adjacent to the dwelling;

(b)    a garage, storeroom or other structure associated with the dwelling.

Meaning of new residential dwelling

26-160(3)    
A * residential dwelling is a new residential dwelling in relation to you if the requirements determined under subsection (4) are met in relation to you and the residential dwelling.

26-160(4)    
The Minister must, by legislative instrument, determine requirements for the purposes of subsection (3) . Without limiting this subsection, the requirements may include requirements relating to one or more of the following:

(a)    the kind of * residential dwelling;

(b)    the kind of interest you hold in the residential dwelling and the circumstances in which you acquired your interest (such as whether you were the builder or a subsequent purchaser of the residential dwelling);

(c)    circumstances relating to the creation of the residential dwelling (such as whether the residential dwelling was built on vacant land, was created through substantial renovations of an existing building, or was built to replace a demolished residential dwelling);

(d)    whether the residential dwelling has a separate title, equitable title or similar legal interest that can be acquired by an entity.

26-160(4A)    
Before determining requirements for the purposes of subsection (4) , the Minister must be satisfied that determining the requirements will assist in achieving the objective of genuinely adding to the supply of residential dwellings in Australia.

26-160(5)    
To avoid doubt, the Minister may determine requirements under subsection (4) relating to matters or circumstances existing before the commencement of this section.