Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 1/3)
Character Range: 1015328–1018369

5                                                 Year 5       10%

40‑460  Your assessable income includes consideration for pooled software
 (1) If expenditure on *in‑house software is (or was) in your software development pool, your assessable income includes any amount you *derive as consideration in relation to the software.
 (2) However, subsection (1) does not apply if subsection 40‑340(3) (roll‑over relief) applies to the change.

Subdivision 40‑F—Primary production depreciating assets

Guide to Subdivision 40‑F

40‑510  What this Subdivision is about

      You can deduct amounts for capital expenditure on depreciating assets that are water facilities, horticultural plants, fodder storage assets or fencing assets.
      The amount you can deduct is equal to the asset's decline in value during an income year (as measured under this Subdivision).

Table of sections

Operative provisions
40‑515 Water facilities, horticultural plants, fodder storage assets and fencing assets
40‑520 Meaning of water facility, horticultural plant, fodder storage asset and fencing asset
40‑525 Conditions
40‑530 When declines in value start
40‑535 Meaning of horticulture and commercial horticulture
40‑540 How you work out the decline in value for water facilities
40‑545 How you work out the decline in value for horticultural plants
40‑548 How you work out the decline in value for fodder storage assets
40‑551 How you work out the decline in value for fencing assets
40‑555 Amounts you cannot deduct
40‑560 Non‑arm's length transactions
40‑565 Extra deduction for destruction of a horticultural plant
40‑570 How this Subdivision applies to partners and partnerships
40‑575 Getting tax information if you acquire a horticultural plant

Operative provisions

40‑515  Water facilities, horticultural plants, fodder storage assets and fencing assets
 (1) You can deduct an amount equal to the decline in value for an income year (as worked out under this Subdivision) of a *depreciating asset that is one of these:
 (a) a *water facility;
 (b) a *horticultural plant;
 (c) a *fodder storage asset;
 (d) a *fencing asset.
Note 1: Sections 40‑540, 40‑545, 40‑548 and 40‑551 show you how to work out the decline.
Note 2: Generally, only one taxpayer can deduct amounts for a depreciating asset. However, if you and another taxpayer jointly hold the asset, each of you deduct amounts for it: see section 40‑35.

Conditions
 (2) However, the applicable condition in section 40‑525 must be satisfied for the *depreciating asset.

Limit on deduction
 (3) You cannot deduct more in total than:
 (a) for a *water facility—the amount of capital expenditure (disregarding expenditure that you cannot deduct because of section 26‑100 (about water infrastructure improvement expenditure)) incurred on the facility; or
 (b) for a *horticultural plant—the amount of capital expenditure incurred on the plant; or
 (c) for a *fodder storage asset—the amount of capital expenditure incurred on the asset; or
 (d) for a *fencing asset—the amount of capital