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-D - Deductible uses of capital works  

Build to rent developments

SECTION 43-154   Notice of events  

43-154(1)    
If any of the following events happen in relation to a *build to rent development, each entity to which subsection (3) applies must notify the Commissioner of the event:

(a)    the development *commences to be an *active build to rent development;

(b)    the development *expands;

(c)    the *ownership interest in the development is acquired by another entity;

(d)    the development *ceases to be an active build to rent development.

43-154(2)    
The notice must be:

(a)    in the *approved form; and

(b)    given no later than 28 days after the event.

43-154(3)    
This subsection applies to the following entities:

(a)    the owner of the development at the time just before the event happens;

(b)    if in the income year in which the event happens, an entity is required to notify the Commissioner under subsection 16-150(4) in Schedule 1 to the Taxation Administration Act 1953 of an amount to which subsection 12-450(5) in that Schedule applies, to any extent, because of a *dwelling of the development - the entity;

(c)    if the event is the event mentioned in paragraph (1)(c) of this section - the entity that acquires the *ownership interest in the development.

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