INCOME TAX ASSESSMENT ACT 1997 - SECT 40.510 What this Subdivision is about
INCOME TAX ASSESSMENT ACT 1997 - SECT 40.510
What this Subdivision is aboutYou can deduct amounts for capital expenditure on depreciating assets that are water facilities, horticultural plants, fodder storage assets or fencing assets.
The amount you can deduct is equal to the asset's decline in value during an income year (as measured under this Subdivision).
40 - 515 Water facilities, horticultural plants, fodder storage assets and fencing assets
40 - 520 Meaning of water facility , horticultural plant , fodder storage asset and fencing asset
40 - 530 When declines in value start
40 - 535 Meaning of horticulture and commercial horticulture
40 - 540 How you work out the decline in value for water facilities
40 - 545 How you work out the decline in value for horticultural plants
40 - 548 How you work out the decline in value for fodder storage assets
40 - 551 How you work out the decline in value for fencing assets
40 - 555 Amounts you cannot deduct
40 - 560 Non - arm's length transactions
40 - 565 Extra deduction for destruction of a horticultural plant
40 - 570 How this Subdivision applies to partners and partnerships
40 - 575 Getting tax information if you acquire a horticultural plant