INCOME TAX ASSESSMENT ACT 1997 - SECT 43.240 Pre - 27 February 1992 undeducted construction expenditure

INCOME TAX ASSESSMENT ACT 1997 - SECT 43.240

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

where:

"your CE" is * your construction expenditure.

"applicable rate" is:

  (a)   0.04 if the capital works began after 21   August 1984 and before 16   September 1987; or

  (b)   0.025 in any other case.

Note:   For the purpose of working out the applicable rate, capital works begun after 15   September 1987 are taken to have begun before 16   September 1987 in certain circumstances. See section   43 - 220.

    Step 2   Deduct the sum of the amounts calculated under Step 1 from * your construction expenditure. The result is the undeducted construction expenditure for * your area.