INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION

Division 10F - Deduction for capital expenditure incurred in establishing horticultural plants

Subdivision C - Annual deduction where the effective life of a plant is 3 or more years

SECTION 124ZZI

124ZZI WHAT IS THE ANNUAL WRITE-OFF RATE AND THE MAXIMUM WRITE-OFF PERIOD?
Use the following table to work out the annual write-off rate and the maximum write-off period for a plant. The maximum write-off period for a plant begins at the time when the plant first became capable of being used:

(a) for the purpose of producing assessable income; and

(b) in a business of horticulture.

Years in effective life of plant	Annual write-off rate	Maximum write-off period
3 to fewer than 5	0.40	2 years and 183 days
5 to fewer than 6 ⅔	0.27	3 years and 257 days
6 ⅔ to fewer than 10	0.20	5 years
10 to fewer than 13	0.17	5 years and 323 days
13 to fewer than 30	0.13	7 years and 253 days
30 or more	0.07	14 years and 105 days

Note:

Effective life is defined by section 124ZZK .

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