Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 1   Build to rent developments

Income Tax Assessment Act 1997

10   After section 43-235

Insert:

43-237 Post-26 February 1992 undeducted construction expenditure - modification for active build to rent developments that have ceased

(1) This section applies if:

(a) a part of *your area was an *active build to rent development area; and

(b) on a day (the cessation day ) in the income year or a prior income year, the *active build to rent development of the active build to rent development area *ceases to be an active build to rent development.

(2) Section 43-235 applies to the part as if for each day in the use period:

(a) before the cessation day; and

(b) that the part was an *active build to rent development;

you did not use the part in the *4% manner.