Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p21
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 21/30)
Character Range: 7831715–7834398

entity can deduct for the item's *cost; or
 (b) the item's *value as trading stock on hand at the start of the income year;
as appropriate.
 (3) If a provision of this Act reduces the gain that would, apart from that provision, be *realised for income tax purposes by the event:
 (a) the amount that the entity can deduct for the item's *cost; or
 (b) the item's *value as *trading stock on hand at the start of the income year;
as appropriate, is increased by the same amount.

Revenue assets

977‑50  Meaning of revenue asset
  A *CGT asset is a revenue asset if, and only if:
 (a) the profit or loss on your disposing of the asset, ceasing to own it, or otherwise realising it, would be taken into account, in calculating your assessable income or *tax loss, otherwise than as a *capital gain or *capital loss; and
 (b) the asset is neither *trading stock nor a *depreciating asset.

977‑55  Loss or gain realised for income tax purposes
  For a *revenue asset:
 (a) disposing of, ceasing to own, or otherwise realising, the asset is a realisation event; and
 (b) a loss is realised for income tax purposes by the *realisation event if, and only if, there is a loss on the event; and
 (c) a gain is realised for income tax purposes by the realisation event if, and only if, there is a profit on the event; and
 (d) the loss or profit on the event is the loss or gain realised for income tax purposes; and
 (e) if a provision of this Act reduces the loss or gain that would, apart from that provision, be realised for income tax purposes by the event, the loss or profit to be taken into account in calculating your assessable income or *tax loss is reduced by the same amount.

Division 980—Affordable housing

Table of Subdivisions
 Guide to Division 980
980‑A Providing affordable housing

Guide to Division 980

980‑1  What this Division is about
      A dwelling is used to provide affordable housing if certain conditions are met, including that the dwelling is tenanted or available to be tenanted, and that tenancies of the dwelling are exclusively managed by a community housing provider.

Subdivision 980‑A—Providing affordable housing

Table of sections

Operative provisions
980‑5 Providing affordable housing
980‑10 Eligible community housing providers
980‑15 Affordable housing certificates

Operative provisions

980‑5  Providing affordable housing
  A *dwelling is used to provide affordable housing on a particular day (the test day) if:
 (a) on the test day, the dwelling is *taxable Australian real property and is *residential premises that:
 (i) are tenanted or available to be tenanted; and
 (ii) are not *commercial residential premises; and
 (b) on the test