Document ID: chunk:federal_register_of_legislation:C2017C00169:clause:2_15
Version: federal_register_of_legislation:C2017C00169
Segment Type: clause
Provision Reference: sch 2 cl 15
Character Range: 12031–12662

15  Section 40‑530
Repeal the section, substitute:

40‑530  When declines in value start
 (1) A *water facility, *fodder storage asset or *fencing asset starts to decline in value in the income year in which you first incur expenditure on the facility or asset.
 (2) A *horticultural plant starts to decline in value in:
 (a) if you are the first entity to satisfy a condition in subsection 40‑525(2) for the plant—the income year in which the first commercial season starts; or
 (b)  if not—the later of the income year in which you first satisfied that condition and the income year in which the first commercial season starts.