Printable version

INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE

Division 43 - Deductions for capital works

Subdivision 43-C - Your area and your construction expenditure

Operative provisions

SECTION 43-120  Your area and your construction expenditure - lessees and quasi-ownership right holders

ITAA 36

Own expenditure

43-120(1)

Your area is the part of the ^*construction expenditure area that you lease, or hold under a ^*quasi-ownership right over land granted by an ^*exempt Australian government agency or an ^*exempt foreign government agency, and that:

(a) is attributable to a ^*pool of construction expenditure that you incurred; and

(b) you have continuously leased or held since the construction was completed.

Earlier lessees' or holders' expenditure

43-120(2)

Your area is the part of the ^*construction expenditure area that you lease, or hold under a ^*quasi-ownership right over land granted by an ^*exempt Australian government agency or an ^*exempt foreign government agency, and that:

(a) is attributable to a ^*pool of construction expenditure incurred by another lessee or holder of a quasi-ownership right over land; and

(b) has been continuously leased or held since the construction was completed by the lessee or holder who incurred the expenditure or an assignee of that lessee's lease or that holder's quasi-ownership right over land.

43-120(3)

Your construction expenditure is the portion of the ^*pool of construction expenditure that is attributable to your area.