Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 1/24)
Character Range: 1028645–1031427

6                                                               30 years or more             14 years and 105 days

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.

40‑551  How you work out the decline in value for fencing assets
  The decline in value of a *fencing 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 fencing asset.

40‑555  Amounts you cannot deduct

Water facilities
 (1) You cannot deduct an amount for any income year for capital expenditure on the acquisition of a *water facility if any entity has deducted or can deduct an amount under this Subdivision for any income year for earlier capital expenditure on:
 (a) the construction or manufacture of the facility; or
 (b) a previous acquisition of the facility.
Note: A depreciating asset and a repair of a capital nature or an alteration, addition or extension to that asset that is a water facility are not the same depreciating asset for the purposes of section 40‑50 and this Subdivision: see section 40‑53.

Horticultural plants
 (3) In working out your deduction under this Subdivision for a *horticultural plant, disregard expenditure incurred:
 (a) in draining swamp or low‑lying land; or
 (b) in clearing land.

Fodder storage assets
 (4) You cannot deduct an amount for any income year for capital expenditure on the acquisition of a *fodder storage asset if any entity has deducted or can deduct an amount under this Subdivision for any income year for earlier capital expenditure on:
 (a) the construction or manufacture of the asset; or
 (b) a previous acquisition of the asset.
Note: A depreciating asset and a repair of a capital nature or an alteration, addition or extension to that asset that is a fodder storage asset are not the same depreciating asset for the purposes of section 40‑50 and this Subdivision: see section 40‑53.

Fencing assets
 (5) You cannot deduct an amount for any income year for capital expenditure on the acquisition of a *fencing asset if any entity has deducted or can deduct an amount under this Subdivision for any income year for earlier capital expenditure on:
 (a) the construction or manufacture of the fencing asset; or
 (b) a previous acquisition of the fencing asset.
Note: A depreciating asset and a repair of a capital nature or an alteration, addition or extension to that asset that is a fencing asset are not the same depreciating asset for the