INCOME TAX ASSESSMENT ACT 1997 - SECT 43.170 Own use--capital works other than hotel and apartment buildings

INCOME TAX ASSESSMENT ACT 1997 - SECT 43.170

  (1)   A part of capital works, other than a * hotel building or an * apartment building, is taken not to be used for the * purpose of producing assessable income if that part   is for use mainly for, or in association with, residential accommodation by you or an * associate.

Note:   This subsection affects Tables 43 - 140 and 43 - 145.

  (2)   Subsection   (1) does not apply to use by an * associate under an * arrangement:

  (a)   to which you and the associate are parties; and

  (b)   that is of a kind that the parties could reasonably be expected to have entered into if they had been dealing with each other at * arm's length; and

  (c)   that was not entered into for the purpose of obtaining a deduction under this Division.

  (3)   If property that constitutes the whole or part of capital works, other than a * hotel building or an * apartment building, is part of an individual's home, the property is taken to be used, or for use, wholly or mainly for or in association with residential accommodation.

Note:   This subsection affects Tables 43 - 90 and 43 - 140.