Tax Laws Amendment (Wine Producer Rebate and Other Measures) Act 2004 (129 of 2004)

Schedule 3   Capital Allowances for grapevines

Income Tax Assessment Act 1997

22   Subsection 40-575(1)

Repeal the subsection, substitute: (1) If you begin to satisfy a condition in section 40-525 for a *horticultural plant, you may give the last entity (if any) that satisfied such a condition for the plant a written notice requiring the entity to give you any or all of the following information:

(a) the amount of establishment expenditure for the plant;

(b) if the entity used the plant's *effective life to work out the decline in value of the plant - its effective life and the day on which it could first be used for *commercial horticulture.