DEVELOPMENT ALLOWANCE AUTHORITY ACT 1980 (ARCHIVE)
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Hide history noteFor the purposes of the Tax Act, if:
(a) an entity holds a certificate relating to plant expenditure incurred, or proposed to be incurred, by the entity in carrying out a project in Australia; and
(b) the plant expenditure is incurred by the entity in carrying out the project; and
(c) if the project is part of a joint venture project specified in the certificate - the plant expenditure is incurred in carrying out that part of the joint venture project; and
(d) if the project is part of a company group project scheme specified in the certificate - the entity is a member of the company group concerned at the time the plant expenditure is incurred;
then:
(e) to the extent that the plant expenditure is incurred in respect of the acquisition or construction of a unit of plant - the plant expenditure is taken to have pre-qualified under this Act; and
(f) to the extent that the plant expenditure is incurred in respect of the lease of a unit of plant under a long-term lease agreement where the lessor is a leasing company - the expenditure of a capital nature incurred by the lessor in respect of the acquisition or construction by the lessor of the unit of plant is taken to have pre-qualified under this Act.
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