• Legal database
Legal database

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-H - Balancing deduction on destruction of capital works  

Operative provisions

SECTION 43-250   The amount of the balancing deduction  

View history reference

Method statement

Step 1.

Calculate the amount (if any) by which the * undeducted construction expenditure for the part of * your area that was destroyed exceeds the amounts you have received or have a right to receive for the destruction of that part.


Step 2.

Reduce the amount at Step 1 if one or more of these happened to that part of * your area:

  • (a) Step 2 or 4 in section 43-210 , or Step 2 or 3 in section 43-215 , applied to you or another person for it;
  • (b) you were, or another person was, not allowed a deduction for it under this Division;
  • (c) a deduction for it was not allowed or was reduced (for you or another person) under former Division 10C or 10D of Part III of the Income Tax Assessment Act 1936 .

    • The reduction under this step must be reasonable.

     View history note

    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.