Income Tax Assessment Act 1997
SECTION 43-85 Pools of construction expenditure 43-85(1)
A pool of construction expenditure is so much of the * construction expenditure incurred by an entity on capital works as is attributable to the * construction expenditure area.
43-85(2)
In applying subsection (1) in a case to which subsection 43-75(3) (dealing with purchases from speculative builders) applies, assume that the expenditure incurred by the other entity was capital expenditure, but that the limitations in subsection 43-70(2) (which sets out types of expenditure that are not * construction expenditure) still apply to the other entity's expenditure.
Note:
The builder's profit margin does not form part of the construction expenditure of the purchaser.
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