Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p7
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 7/9)
Character Range: 214482–217210

operate that project again; and
 (d) it is reasonable to conclude that you did this for the main purpose of ensuring that deductions for project amounts in relation to that project would be worked out under section 40‑832 of that Act;
the Income Tax Assessment Act 1997 applies to you as if the project had started to operate before 10 May 2006.

Subdivision 40‑J—Ships depreciated under section 57AM of the Income Tax Assessment Act 1936

Table of sections
40‑840 Ships depreciated under section 57AM of the Income Tax Assessment Act 1936

40‑840  Ships depreciated under section 57AM of the Income Tax Assessment Act 1936
 (1) This section applies if:
 (a) you have deducted or can deduct amounts for a ship under section 57AM of the Income Tax Assessment Act 1936 as in force before its repeal by Schedule 1 to the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006; and
 (b) you hold the ship when this section commences.
 (2) Division 40 of the Income Tax Assessment Act 1997 applies to the ship after the commencement of this section.
 (3) For the purposes of that application:
 (a) the cost of the ship when this section commences is its cost under the Income Tax Assessment Act 1936 just before that time; and
 (b) the ship's adjustable value when this section commences is its depreciated value under the Income Tax Assessment Act 1936 just before that time; and
 (c) paragraphs 40‑285(1)(a) and (2)(a) have effect as if amounts you have deducted or can deduct under section 57AM of the Income Tax Assessment Act 1936, as in force before its repeal, are taken to be part of the ship's decline in value under Subdivision 40‑B of the Income Tax Assessment Act 1997.

Division 43—Deductions for capital works

Table of sections
43‑100 Application of Division 43 to quasi‑ownership rights over land
43‑105 Application of subsections 43‑50(1) and (2) to hotel buildings and apartment buildings
43‑110 Application of subsection 43‑75(3)

43‑100  Application of Division 43 to quasi‑ownership rights over land
  Division 43 of the Income Tax Assessment Act 1997 applies to quasi‑ownership rights over land granted in respect of:
 (a) capital works being a hotel building or an apartment building begun after 30 June 1997; and
 (b) other capital works begun after 26 February 1992.

43‑105  Application of subsections 43‑50(1) and (2) to hotel buildings and apartment buildings
  Subsections 43‑50(1) and (2) of the Income Tax Assessment Act 1997 do not apply to capital works being a hotel building or an apartment building begun before 1 July 1997.

43‑110  Application of subsection 43‑75(3)
  Subsection 43‑75(3) of the Income Tax Assessment Act 1997 does not apply to capital works being a hotel building or an