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 43-260   43-260   Apportioning amounts received for destruction  
If an amount received or receivable in respect of the destruction of property relates to both the part of * your area for which you are claiming the balancing deduction and to property:


(a) the cost of which did not form part of * your construction expenditure; or


(b) that is capital works that was not part of your area;

you must apportion the amount received or receivable to the amount that is attributable to the part of your area that was destroyed. The apportionment must be reasonable.


 

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