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If you are an owner/builder and incur construction expenditure then that is what the cost is. There is no room for estimate. TR 97/25 is about paying somebody to build or else purchase a building. Here, as a matter of administrative concession, the Commissioner will accept an estimate from a...

If you actually build the property then there are no estimates. A registered tax adviser can divide the costs between depreciating assets, capital works and other expenditure. TR 97/25 concerns the situation where a purchaser is not provided with original construction costs, even though...