INCOME TAX ASSESSMENT ACT 1997 - SECT 43.250 The amount of the balancing deduction
INCOME TAX ASSESSMENT ACT 1997 - SECT 43.250
The amount of the balancing deductionMethod statement
Step 1. Calculate the amount (if any) by which the * undeducted construction expenditure for the part of * your area that was destroyed exceeds the amounts you have received or have a right to receive for the destruction of that part.
Step 2. Reduce the amount at Step 1 if one or more of these happened to that part of * your area:
(a) Step 2 or 4 in section 43 - 210, or Step 2 or 3 in section 43 - 215, applied to you or another person for it;
(b) you were, or another person was, not allowed a deduction for it under this Division;
(c) a deduction for it was not allowed or was reduced (for you or another person) under former Division 10C or 10D of Part III of the Income Tax Assessment Act 1936 .