| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of administratively binding advice
Authorisation Number: 1012587002399
Ruling
Subject: Deductions in regard to construction expenditure
The Commissioner was asked to rule on the following question:
If the trust assigns the sub-lease it holds over the area of land on which the facility is located to a third party entity (New Entity) separate from the group, will the New Entity be entitled to claim deductions pursuant to Division 43 of the ITAA 1997 in respect of construction expenditure on the facility capital works incurred by the original sub-lessee after 26 February 1992?
The Commissioner ruled:
Yes. If the trust assigns the sub-lease it holds over the area of land on which the facility is located to a third party entity (New Entity) separate from the group, the New Entity will be entitled to claim deductions pursuant to Division 43 of the ITAA 1997 in respect of construction expenditure on the facility capital works incurred by the original sub-lessee after 26 February 1992.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
