Document ID: chunk:federal_register_of_legislation:C2004A00844:clause:1_3
Version: federal_register_of_legislation:C2004A00844
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 112701–114799

3                          A grapevine             the income year when you first used it in a *primary production business for the *purpose of producing assessable income

40‑535  Meaning of horticulture and commercial horticulture

 (1) Horticulture includes:
 (a) propagation and cultivation of a *horticultural plant in any environment (whether natural or artificial); and
 (b) propagation and cultivation of seeds, bulbs, spores and similar things; and
 (c) propagation and cultivation of fungi.

 (2) Use for commercial horticulture means use for the *purpose of producing assessable income in a *business of *horticulture.

40‑540  How you work out the decline in value for water facilities

  You work out the decline in value of a *water facility for an income year in this way for the income year in which you incurred the expenditure and the 2 following years:
where:

expenditure is the amount of capital expenditure you incurred on the construction, manufacture, installation or acquisition of the *water facility.

40‑545  How you work out the decline in value for horticultural plants

 (1) The decline in value of a *horticultural plant for the income year in which it starts to decline in value is all of the capital expenditure attributable to the establishment of the plant if its *effective life is less than 3 years.

 (2) You work out the decline in value for an income year of a *horticultural plant whose *effective life is 3 years or more in this way:
where:

establishment expenditure is the amount of capital expenditure incurred that is attributable to the establishment of the *horticultural plant.

write‑off days in income year is the number of days in the income year on which you satisfied a condition in subsection 40‑525(2) for the plant and either used it for *commercial horticulture or held it ready for that use.

write‑off rate is the rate shown in this table for the *horticultural plant according to its *effective life.

Write‑off rate for horticultural plant
Item                                    Effective life of:           The write‑off rate is: