Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 43.260

Apportioning amounts received for destruction

    If an amount received or receivable in respect of the destruction of property relates to both the part of * your area for which you are claiming the balancing deduction and to property:

  (a)   the cost of which did not form part of * your construction expenditure; or

  (b)   that is capital works that was not part of your area;

you must apportion the amount received or receivable to the amount that is attributable to the part of your area that was destroyed. The apportionment must be reasonable.

 


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