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-G - Undeducted construction expenditure  

Operative provisions

SECTION 43-235   Post-26 February 1992 undeducted construction expenditure  


Step 1

Calculate for each day in the use period the amount worked out using the formula:


Portion of your CE × 0.04
365

where:

portion of your CE is the portion of * your construction expenditure that is attributable to the part of * your area that you used in the * 4% manner.


Step 2

Calculate for each day in the use period the amount worked out using the formula:


Portion of your CE × 0.025
365

where:

portion of your CE is the portion of * your construction expenditure that is attributable to the part of * your area that you did not use in the * 4% manner.


Step 3

Add the aggregate of the amounts calculated under Steps 1 and 2.


Step 4

Deduct the sum of those amounts from * your construction expenditure. The result is the undeducted construction expenditure for * your area.


 

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