The fund can claim a deduction under Division 43 for an income year only if it:
- owns, leases or holds part of a construction expenditure area of capital works
- incurred the expense
- uses the building to produce assessable income.
The area the fund owns, leases or holds is called 'your area'.
In calculating the fund's deduction, you must identify your area for each construction expenditure area of the capital works. Your area may comprise the whole of the construction area or part of it.