Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 4/4)
Character Range: 2012446–2013765

(a) the land or building was *acquired at or before the time mentioned in subsection (1); and
 (b) the expenditure forms part of the fourth element of the *cost base of the land or building.

Deductible expenditure excluded from second and third elements
 (1B) Expenditure does not form part of the second or third element of the cost base to the extent that you have deducted or can deduct it.

Other deductible expenditure
 (2) Expenditure (except expenditure excluded by subsection (1B)) does not form part of the cost base to the extent that you have deducted or can deduct it for an income year, except so far as:
 (a) the deduction has been reversed by an amount being included in your assessable income for an income year by a provision of this Act (outside this Part and Part 3‑3 and Division 243); or
Note: Division 20 contains some of the provisions that reverse deductions. Section 20‑5 lists some others.
 (ab) the deduction is under Division 243; or
 (b) the deduction would have been so reversed apart from a provision listed in the table (relief from including a balancing charge in your assessable income).

Provisions for relief from including a balancing charge in your assessable income
Item                                                                               Provision       Subject matter