New South Wales Consolidated Regulations

RETIREMENT VILLAGES REGULATION 2009 - REG 5

5 Capital maintenance

(1) For the purposes of the definition of "capital maintenance" in section 4 (1) of the Act:

(b) the following are prescribed as not being capital maintenance:

(i) work done to substantially improve an item of capital beyond its original condition,

(ii) work done to maintain or repair an item of capital in circumstances where it would have been more cost effective to replace the item of capital.