INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10D - Deductions for capital expenditure on certain buildings and structural improvements  

SECTION 124ZFB   DIVISION HAS EFFECT AS IF CERTAIN STRUCTURAL IMPROVEMENTS WERE BUILDINGS  

124ZFB(1)   Structural improvements to which this section applies.  

This section applies to a structural improvement if:

(a) apart from this section, the structural improvement is not a building; and

(b) the structural improvement does not consist of earthworks that:

(i) are not reasonably likely to require replacement because of physical deterioration (assuming that the earthworks are maintained in reasonably good order and condition); and

(ii) can be economically maintained in reasonably good order and condition for an indefinite period; and

(iii) are not integral to the construction of things that, apart from this paragraph, are structural improvements to which this section applies;

(for example: unlined channels; unlined basins; earth tanks; and dirt tracks); and

(c) the structural improvement does not consist of earthworks that merely create artificial landscapes (for example: grass golf course fairways and greens; gardens; and grass sports fields).

124ZFB(2)   Examples of structural improvements to which this section applies.  

The following are examples of structural improvements to which this section applies:

(a) sealed roads, sealed driveways or sealed car parks;

(b) bridges;

(c) sealed airport runways;

(d) pipelines;

(e) lined road tunnels;

(f) retaining walls;

(g) fences;

(h) concrete or rock dams;

(i) artificial sports fields.

124ZFB(3)   Structural improvements deemed to be buildings.  

This Division has effect as if the structural improvement were a building.

124ZFB(4)   Application of section - post-26 February 1992 structural improvements.  

This section applies in relation to expenditure incurred in respect of the construction of a structural improvement, or an extension, alteration or improvement to a structural improvement, if the construction commenced after 26 February 1992.