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Edited version of your written advice
Authorisation Number: 1012925909513
Date of advice: 10 December 2015
Ruling
Subject: Capital expenditure deductibility for environmental protection activities.
The Trust incurred expenditure as part of a development project.
Question 1
The ruling concerned whether expenditure incurred by the Trust was for the sole or dominant purpose of carrying on environmental protection activities and deductible under section 40-755 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
The Commissioner ruled that the expenditure was deductible under section 40-755 of the ITAA 1997.
Question 2
The ruling concerned whether expenditure incurred by the Trust was a project amount for the purposes of subsection 40-840(2) of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure was a project amount for the purposes of subsection 40-840(2) of the ITAA 1997.
Question 3
The ruling concerned, if the answer to Question 1 is No, is the expenditure incurred by the Trust a project amount for the purposes of subsection 40-840(2) of the ITAA 1997?
Answer
Not necessary for the Commissioner to rule
Question 4
The ruling concerned whether expenditure incurred by the Trust for preventing, fighting or remedying pollution under paragraph 40-755(2)(a) of the ITAA 1997, was deductible under section 40-775 of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure for preventing, fighting or remedying pollution under paragraph 40-755(2)(a) of the ITAA 1997, was deductible under section 40-775 of the ITAA 1997.
Question 5
The ruling concerned whether expenditure incurred by the Trust for treating, cleaning up, removing or storing waste under paragraph 40-755(2)(b) of the ITAA 1997, was deductible under section 40-775 of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure for treating, cleaning up, removing or storing waste under paragraph 40-755(2)(b) of the ITAA 1997, was deductible under section 40-775 of the ITAA 1997.
Question 6
The ruling concerned whether to the extent that expenditure is not deductible under section 40-755 of the ITAA 1997, is the expenditure a project amount incurred by the Trust for the purposes of subsection 40-840(2) of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure was a project amount for the purposes of subsection 40-840(2) of the ITAA 1997.
Question 7
The ruling concerned whether expenditure incurred by the Trust is a project amount for the purposes of subsection 40-840(2) of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure was a project amount for the purposes of subsection 40-840(2) of the ITAA 1997.
Question 8
The ruling concerned whether expenditure incurred by the Trust is a project amount for the purposes of subsection 40-840(2) of the ITAA 1997?
Answer
The Commissioner ruled that the expenditure was a project amount for the purposes of subsection 40-840(2) of the ITAA 1997.
Question 9
The ruling concerned if the project life for the purposes of section 40-845 of the ITAA 1997 is the period from when the development becomes operational until the end of operation?
Answer
The Commissioner ruled that the project life for the purposes of section 40-845 of the ITAA 1997 is from when the project becomes operational until it ends.
This ruling applies for the following periods:
All income years between xx July 20xx and 20xx
The scheme commences on:
xx 20xx