Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 415.75

  (1)   Provisional designation, or designation, of the infrastructure project would breach the * infrastructure project capital expenditure cap under this section if, were the provisional designation or designation to occur, the total of the estimates accepted under section   415 - 80 for each infrastructure project that, just after the provisional designation or designation, would be:

  (a)   a * provisionally designated infrastructure project; or

  (b)   a * designated infrastructure project;

would exceed the amount mentioned in subsection   (2).

  (2)   The amount is:

  (a)   $25 billion; or

  (b)   if the * infrastructure project designation rules prescribe a greater amount--that prescribed amount.

  (3)   For the purposes of subsection   (1), disregard so much of the amount of an estimate for an infrastructure project (the listed infrastructure project ) as relates to a part of the listed infrastructure project, if:

  (a)   that part of the listed project is (or would be, were the provisional designation or designation mentioned in that subsection to occur):

  (i)   a * provisionally designated infrastructure project; or

  (ii)   a * designated infrastructure project; and

  (b)   the listed infrastructure project is included on an Infrastructure Priority List.

Note:   For Infrastructure Priority Lists, see paragraph   5(b) of the Infrastructure Australia Act 2008 .

  (4)   In this Act:

"infrastructure project capital expenditure" :

  (a)   has the meaning given by the * infrastructure project designation rules; or

  (b)   if the infrastructure project designation rules do not give infrastructure project capital expenditure a meaning--means capital expenditure.