INCOME TAX ASSESSMENT ACT 1997 - SECT 43.235 Post - 26 February 1992 undeducted construction expenditure

INCOME TAX ASSESSMENT ACT 1997 - SECT 43.235

    Step 1   Calculate for each day in the use period the amount worked out using the formula:

where:

"portion of your CE" is the portion of * your construction expenditure that is attributable to the part of * your area that you used in the * 4% manner.

    Step 2   Calculate for each day in the use period the amount worked out using the formula:

where:

"portion of your CE" is the portion of * your construction expenditure that is attributable to the part of * your area that you did not use in the * 4% manner.

    Step 3   Add the aggregate of the amounts calculated under Steps 1 and 2.

    Step 4   Deduct the sum of those amounts from * your construction expenditure. The result is the undeducted construction expenditure for * your area.