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.


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