Income Tax Assessment Act 1997
You can only get a deduction under this Division for an income year if you own, lease or hold part of a construction expenditure area of capital works. The area you own, lease or hold is called your area .
In working out your deductions, you must identify your area for each construction expenditure area of the capital works.
Your area may comprise the whole of the construction expenditure area or part of it.
In certain circumstances the notional buyer of property is taken to be its owner (see subsection 240-20(2) ).