Treasury Laws Amendment (Supporting Australian Farmers) Act 2018 (123 of 2018)

Schedule 1   Fodder storage assets

Income Tax Assessment Act 1997

2   Section 40-548

Repeal the section, substitute:

40-548 How you work out the decline in value for fodder storage assets

The decline in value of a *fodder storage asset 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 fodder storage asset.