Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_9:p2
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 9 (pt 2/3)
Character Range: 213929–216582

in a plantation or forest; or
 (iii) transporting trees, or parts of trees, that you felled in a plantation or forest to the place where they are first to be milled or processed, or from which they are to be transported to the place where they are first to be milled or processed; and
 (e) structural improvements, other than those used for domestic or residential purposes, that are used wholly for operations (carried out in the course of a business) relating directly to:
 (i) taking or culturing pearls or pearl shell; or
 (ii) taking or catching trochus, bêche-de-mer or green snails;
  and that are situated at or near a port or harbour from which the business is conducted; and
 (f) structural improvements that are excluded from paragraph (c), (d) or (e) because they are used for domestic or residential purposes if they are provided for the accommodation of employees, tenants or sharefarmers who are engaged in or in connection with the activities referred to in that paragraph.

 (2) Plant also includes plumbing fixtures and fittings (including wall and floor tiles) provided by an entity mainly for:
 (a) either or both:
 (i) employees in a *business carried on by the entity for the *purpose of producing assessable income; or
 (ii) employees in a business carried on for that purpose by a company that is a member of the same *wholly-owned group of which the entity is a member; or
 (b) *children of any of those employees.

42-19  References to plant

  References in the following provisions of this Division to *plant are to a unit of plant.

42-20  Amount you deduct

 (1) The amount you deduct is worked out under Subdivision 42‑E. However, for *plant in a *pool, you work out the amount under Subdivision 42-L.

 (2) You cannot deduct more than the *undeducted cost of the *plant.

42-25  Calculation

 (1) The calculation of your deduction is based on the *cost of the *plant to you.

 (2) The rate you use to calculate your deduction is set out in Subdivision 42-D. Generally, the rate is based on the *effective life of the *plant.

 (3) You have a choice of 2 calculation methods: the *diminishing value method and the *prime cost method. You make the choice for the income year in which a depreciation deduction is first allowable to you for the *plant.

Note: The diminishing value method calculates your deduction each year as a percentage of the balance you have left to deduct.

 The prime cost method calculates your deduction each year as a percentage of your cost.

42-30  Balancing adjustments

 (1) You must make a balancing adjustment calculation for *plant if:
 (a) you have deducted or can deduct an amount for