INCOME TAX ASSESSMENT ACT 1997 - SECT 40.530 When declines in value start

INCOME TAX ASSESSMENT ACT 1997 - SECT 40.530

  (1)   A * water facility, * fodder storage asset or * fencing asset starts to decline in value in the income year in which you first incur expenditure on the facility or asset.

  (2)   A * horticultural plant starts to decline in value in:

  (a)   if you are the first entity to satisfy a condition in subsection   40 - 525(2) for the plant--the income year in which the first commercial season starts; or

  (b)   if not--the later of the income year in which you first satisfied that condition and the income year in which the first commercial season starts.