Document ID: chunk:federal_register_of_legislation:C2009A00031:clause:1_4:p5
Version: federal_register_of_legislation:C2009A00031
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 5/5)
Character Range: 11258–12744

a time if you first incur expenditure in respect of the construction of the asset at that time.
 (3B) For the purposes of paragraph (1)(b), treat yourself as having started construction for an economic benefit at a time if you first incur expenditure in respect of the construction for the benefit at that time.

Options
 (4) To avoid doubt, for the purposes of this section, you do not enter into a contract under which you *hold an asset merely because you acquire an option to enter into such a contract.

41‑30  First use time
  The first use time for the amount is:
 (a) if the amount is included in the first element of the asset's *cost—the time at which you start to use the asset, or have it *installed ready for use; or
 (b) if the amount is included in the second element of the asset's cost—the later of:
 (i) the time at which it becomes included in that element under paragraph 40‑190(2)(a); or
 (ii) the time mentioned in paragraph (a).

41‑35  New investment threshold
  The new investment threshold for an income year (the relevant income year) in relation to an asset means:
 (a) $1000 if you are a *small business entity during any of the following income years:
 (i) the income year in which occurs the *investment commitment time for any *recognised new investment amount for the asset in relation to the relevant income year;
 (ii) the income year in which occurs the *first use time for any such amount;
 (iii) the relevant income year; or
 (b) otherwise—$10,000.