Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p44
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 44/54)
Character Range: 1198642–1201383

deduction for it under this Division;
                (c) a deduction for it was not allowed or was reduced (for you or another person) under former Division 10C or 10D of Part III of the Income Tax Assessment Act 1936.

            The reduction under this step must be reasonable.

43‑255  Amounts received or receivable
  The amounts you have received or have a right to receive for the destruction of that part of *your area include:
 (a) an amount received under an insurance policy or otherwise for the destruction of that part; and
 (b) an amount received for disposing of property that was included in that part of your area, less any demolition expenditure incurred on the property.

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.

Division 44—Build to rent development misuse tax

Table of Subdivisions
 Guide to Division 44
44‑A Object of this Division
44‑B Build to rent development misuse tax
44‑C When tax is payable

Guide to Division 44

44‑1  What this Division is about
      This Division removes certain tax concessions for build to rent developments when they cease to be active build to rent developments.

Subdivision 44‑A—Object of this Division

Table of sections

Operative provisions
44‑5 Object of this Division

Operative provisions

44‑5  Object of this Division
  The object of this Division is to remove certain tax concessions for *build to rent developments when they *cease to be *active build to rent developments.

Subdivision 44‑B—Build to rent development misuse tax

Guide to Subdivision 44‑B

44‑10  What this Subdivision is about
      You are liable to pay a tax if a build to rent development you own ceases to be an active build to rent development. The tax is on an amount (called a build to rent misuse amount) related to past capital works deductions and withholding amounts (if any) for the active build to rent development.

Table of sections

Liability for tax
44‑15 Liability for tax

Build to rent misuse amounts
44‑20 Build to rent misuse amounts
44‑25 Your build to rent capital works deduction amount
44‑30 Your build to rent withholding amount

Liability for tax

44‑15  Liability for tax
  You are liable to pay *build to rent development misuse tax for an income year if you have