Tax Laws Amendment (Small Business Measures No. 2) Act 2015 (67 of 2015)
Schedule 2 Accelerated depreciation for primary producers
Income Tax Assessment Act 1997
2 Section 40-10 (table item 1.5)
Repeal the item, substitute:
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1.5 |
Primary production depreciating assets You can deduct amounts for capital expenditure on: · water facilities immediately; or · horticultural plants over a period that relates to the effective life of the plant; or · fodder storage assets over 3 income years; or · fencing assets immediately. |
Subdivision 40-F |