INCOME TAX ASSESSMENT ACT 1997 - SECT 40.540 How you work out the decline in value for water facilities
INCOME TAX ASSESSMENT ACT 1997 - SECT 40.540
How you work out the decline in value for water facilities(1) The decline in value of a * water facility for the income year in which you incurred the expenditure is the amount of capital expenditure you incurred on the construction, manufacture, installation or acquisition of the water facility.
(2) However, disregard expenditure that you cannot deduct
because of section 26 - 100 (about water infrastructure improvement
expenditure).