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-G - Undeducted construction expenditure

Operative provisions

SECTION 43-235 Post-26 February 1992 undeducted construction expenditure

Step 1

Calculate for each day in the use period the amount worked out using the formula:

Portion of your CE × 0.04
365

where:

portion of your CE is the portion of ^* your construction expenditure that is attributable to the part of ^* your area that you used in the ^* 4% manner.

Step 2

Calculate for each day in the use period the amount worked out using the formula:

Portion of your CE × 0.025
365

where:

portion of your CE is the portion of ^* your construction expenditure that is attributable to the part of ^* your area that you did not use in the ^* 4% manner.

Step 3

Add the aggregate of the amounts calculated under Steps 1 and 2.

Step 4

Deduct the sum of those amounts from ^* your construction expenditure. The result is the undeducted construction expenditure for ^* your area.

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