Document ID: chunk:federal_register_of_legislation:F2024L00964:reg:43
Version: federal_register_of_legislation:F2024L00964
Segment Type: reg
Provision Reference: reg 43
Character Range: 84451–85607

43  Capital costs incurred for a unit of property completed over several years
 (1) This section applies to an included capital cost for the taxpayer if the cost is incurred in relation to a unit of property:
 (a) that is constructed over a period of time; and
 (b) for which the last capital cost is incurred in a later financial year (the final cost year).
 (2) For the purposes of step 8 of the residual pricing method, the included capital cost:
 (a) is augmented for the number of calendar years between the start date for the included capital cost and 1 January in the final cost year; and
 (b) is taken to be incurred in the final cost year.
Note 1: The start date for the included capital cost may have been affected by subsection 41(2).
Note 2: The steps of the method work sequentially. So, (assuming this subsection applies to the cost) the next applicable step or provision that refers to the cost will be referring to:
(a) the cost as augmented under this subsection; and
(b) a start date for the cost of 1 January in the final cost year.
 (3) This section does not apply to an included capital cost that is included under subsection 35(10).