Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 43.10

(1) You can deduct an amount for capital works for an income year.

(2) You can only deduct the amount if:

   (a)  the capital works have a *construction expenditure area; and

   (b)  there is a *pool of construction expenditure for that area; and

   (c)  you use *your area in the income year in the way set out in Table
        43-140 (Current year use). Note 1: The deduction is limited to capital
        works to which this Division applies, see section 43-20. Note 2:
        Amongst other things, the definition of your area ensures that only
        owners and certain lessees of capital works, and certain holders of
        quasi-ownership rights over land on which capital works are
        constructed, can deduct an amount under this Division.