Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 43.140

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)  carrying on *research and development
activities. Time period 2: 27/2/92 to 30/6/97 (inclusive)

*Hotel building
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)  carrying on *research and development
activities. Time period 3: Before 27/2/92

*Hotel building
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)  carrying on *research and development
activities. Note: 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.
. Research and development activities must be carried on in connection with a
business carried on for the purpose of producing assessable income, see
section 43-195.