Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The following table sets out the way you must use * your area in an income year for a deduction to be allowed under section 43 - 10 (the main deduction provision). The relevant use depends on the time when the capital works began (Column 1) and the type of capital works (Column 2). Column 3 sets out the use.
Table 43 - 140--Current year use | ||
Column 1 Date capital works begin | Column 2 Type of capital works | Column 3 Use of your area at some time in the income year |
Time period 1: After 30/6/97 | Any capital works | You use * your area for the purpose of: (a) producing assessable income; or (b) conducting * R&D activities. |
Time period 2: 27/2/92 to 30/6/97 (inclusive) | You use * your area for the * purpose of producing assessable income. | |
| * Apartment building | You use * your area for the * purpose of producing assessable income. |
| Other capital works | You use * your area for the purpose of: (a) producing assessable income; or (b) conducting * R&D activities. |
Time period 3: Before 27/2/92 | You use * your area for the * purpose of producing assessable income and: (a) all or part of that area is used by any entity wholly or mainly to operate a hotel, motel or guest house; and (b) that hotel, motel or guest house has at least 10 bedrooms that are used or available for use wholly to provide short - term accommodation for travellers. | |
| * Apartment building | You use * your area for the * purpose of producing assessable income and: (a) that area is, is part of or contains an apartment, unit or flat that is used or available for use by any entity wholly to provide short - term accommodation for travellers, and you own or lease at least 9 other apartments, units or flats in the building that are used or available for use by any entity wholly to provide short - term accommodation for travellers; or (b) that area is, is part of or contains a facility that is used or available for use by any entity wholly or mainly in association with providing short - term accommodation for travellers in apartments, units or flats in the building that are used in the way described in paragraph (a). |
| Other capital works | You use * your area for the purpose of: (a) producing assessable income; or (b) conducting * R&D activities. |
Note 1: There are special rules that explain or qualify the uses described in Column 3 of this Table. These rules are set out in Subdivision 43 - E (sections 43 - 155 to 43 - 195). For example:
• Your area is taken to be used, for use or available for use for a purpose or in a way if it is maintained ready for use for that purpose or in that way. See section 43 - 160.
• R&D activities must be conducted in connection with a business carried on for the purpose of producing assessable income, see section 43 - 195.
Note 2: If Division 250 applies to you and an asset that is a capital work:
(a) if section 250 - 150 applies--you are taken not to be using the capital work for the purpose of producing assessable income, or for the purpose of conducting R&D activities, to the extent specified under subsection 250 - 150(3); or
(b) otherwise--you are taken not to be using the capital work for such a purpose.
(2) This Division applies to an entity as if the entity used property for the * purpose of producing assessable income if the entity uses the property for:
(a) * environmental protection activities; or
(b) the environmental impact assessment of a project;
unless a provision of this Act expressly provides that that use is not for the purpose of producing assessable income.