Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 40.865

  (1)   Transport capital expenditure is capital expenditure you incur, in carrying on a * business for a * taxable purpose, on:

  (a)   a * transport facility; or

  (b)   obtaining a right to construct or install a transport facility, or part of one, on land owned or leased by another entity or in an area referred to in subsection   960 - 505(2) (about offshore areas and installations); or

  (c)   paying compensation for any damage or loss caused by constructing or installing a transport facility or part of one; or

  (d)   earthworks, bridges, tunnels or cuttings that are necessary for a transport facility.

  (2)   Transport capital expenditure also includes capital expenditure you incur, in carrying on a * business for a * taxable purpose, by way of contribution to:

  (a)   someone else's capital expenditure on a * transport facility or on anything else covered by a paragraph of subsection   (1); or

  (b)   an * exempt Australian government agency's capital expenditure on railway rolling - stock.

  (3)   Transport capital expenditure does not include expenditure on:

  (a)   road vehicles or ships; or

  (b)   railway rolling - stock; or

  (c)   a thing covered by the definition of housing and welfare ; or

  (d)   works for providing water, light or power, in connection with a port facility or other facility for ships;

and does not include expenditure by way of contribution to that expenditure (except expenditure by way of contribution to an * exempt Australian government agency's capital expenditure on railway rolling - stock).