Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)

Schedule 3   Capital allowances

Income Tax Assessment Act 1997

15   Subsection 40-45(2)

Repeal the subsection, substitute:

Capital works

(2) This Division does not apply to capital works for which you can deduct amounts under Division 43, or for which you could deduct amounts under that Division:

(a) but for expenditure being incurred, or capital works being started, before a particular day; or

(b) had you used the capital works for a purpose relevant to those capital works under section 43-140.

Note: Section 43-20 lists the capital works to which that Division applies.