Commonwealth Consolidated Regulations

INCOME TAX REGULATIONS 1936 - REG 152H

         (1)   For the purposes of subparagraph 570 (1) (a) (iii) of the Act, capital works are a prescribed class of property.

         (2)   For the purposes of paragraph 570 (1A) (b) of the Act, 2.5% is the annual amortisation percentage in relation to the class, or a category of property included in the class.

         (3)   In this regulation, capital works means structures that:

                (a)    are capital works that, regardless of when the works were begun, or when expenditure on the works first occurred, are of the kind that, under section 43‑20 of the Income Tax Assessment Act 1997 , are capital works to which Division 43 of that Act applies; and

               (b)    are not plant within the meaning given by section 45‑40 of the Income Tax Assessment Act 1997 .