Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p23
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 23/54)
Character Range: 1145489–1148207

area is the part of the *construction expenditure area that you own.
 (2) Your construction expenditure is the portion of the *pool of construction expenditure that is attributable to your area.

43‑120  Your area and your construction expenditure—lessees and quasi‑ownership right holders

Own expenditure
 (1) Your area is the part of the *construction expenditure area that you lease, or hold under a *quasi‑ownership right over land granted by an *exempt Australian government agency or an *exempt foreign government agency, and that:
 (a) is attributable to a *pool of construction expenditure that you incurred; and
 (b) you have continuously leased or held since the construction was completed.

Earlier lessees' or holders' expenditure
 (2) Your area is the part of the *construction expenditure area that you lease, or hold under a *quasi‑ownership right over land granted by an *exempt Australian government agency or an *exempt foreign government agency, and that:
 (a) is attributable to a *pool of construction expenditure incurred by another lessee or holder of a quasi‑ownership right over land; and
 (b) has been continuously leased or held since the construction was completed by the lessee or holder who incurred the expenditure or an assignee of that lessee's lease or that holder's quasi‑ownership right over land.
 (3) Your construction expenditure is the portion of the *pool of construction expenditure that is attributable to your area.

43‑125  Lessees' or right holders' pools can revert to owner
 (1) An amount that relates to a *pool of construction expenditure that arises as a result of expenditure incurred by a lessee or a holder of a *quasi‑ownership right over land:
 (a) can only be deducted by a lessee or a holder of a quasi‑ownership right over land who satisfies subsection 43‑120(1) or (2); and
 (b) cannot be deducted by the owner of the capital works while there is a lessee or a holder of a quasi‑ownership right over land who satisfies that subsection.
 (2) The owner of the capital works may deduct an amount that relates to that pool if there is no longer a lessee or a holder of a *quasi‑ownership right over land who satisfies subsection 43‑120(1) or (2).

43‑130  Identifying your area on acquisition or disposal
  There will be a separate *your area at each time in an income year when you:
 (a) acquire an additional part of a *construction expenditure area; or
 (b) dispose of some but not all of a construction expenditure area.
Example: You own half of a building (part A) throughout the income year, and you acquire the other half (part B) on 1 January. This section ensures that part A is your area for the entire year and that part B is your area for the second