DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)
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Hide history noteThe following is a simplified outline of the scheme of this Chapter:
(a) an entity may apply for registration of plant expenditure incurred, or proposed to be incurred, by the entity in carrying out a project in Australia;
(b) the Development Allowance Authority (`` DAA '') will register the expenditure if certain criteria are satisfied;
(c) if the expenditure is in respect of the acquisition or construction of plant - the DAA will issue a certificate pre-qualifying the expenditure for the tax incentive known as development allowance if:
(i) the expenditure has been registered; and
(ii) a substantial commitment to the completion of the project has occurred before 1 July 1996; and
(iii) certain other criteria are satisfied;
(d) if the expenditure is in respect of the lease of plant - the DAA will issue a certificate pre-qualifying the lessor's expenditure for the tax incentive known as development allowance if:
(i) the lessee's expenditure has been registered; and
(ii) a substantial commitment to the completion of the project has occurred before 1 July 1996; and
(iii) certain other criteria are satisfied.
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