Site improvement deductions for existing site improvements
284 Site improvement deductions for existing site improvements
An owner of land may, as part of the objection process, make a deduction application for site improvements the owner paid for before the commencement.
However, if the deduction application is granted, the 12-year period under section 43(2)(b)(i) is changed to the part of that period that has not expired.
Subsection (2) does not otherwise limit sections 43 and 44.
Example—
A paid for site improvements to A’s land done before the commencement. The land is a single lot. A is granted a site improvement deduction for the improvements and continues to own the land at all relevant times. Seven years have passed since the payment. A is entitled to a site improvement deduction for the next 5 years.
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