Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_3:p14
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 14/24)
Character Range: 445548–448427

low-lying land or in clearing land.

387‑315  Additional deduction if grapevine is destroyed

 (1) If a grapevine in Australia that you own and use in a *primary production business for the *purpose of producing assessable income is destroyed at any time up to 4 years after the day it was established, you can deduct an amount for the income year during which the grapevine is destroyed.

 (2) Work out the amount you can deduct as follows:

      Method statement
           Step 1. Work out the total of the amounts you could have deducted under section 387‑305 for that expenditure if you had owned the grapevine and used it in a *primary production business for the *purpose of producing assessable income for the whole of the period:

                (a) starting when the grapevine was established; and
                (b) ending when the grapevine was destroyed.

           Step 2. Subtract from the establishment expenditure worked out under subsection 387‑305(2):

                (a) the result from Step 1; and
                (b) any amount you received (under an insurance policy or otherwise) for the destruction of the grapevine.

            The remaining amount (if any) is the amount you can deduct under subsection (1).

Note: In Step 1 you must take into account any amounts you could have deducted if section 387‑305 had applied to assessments for income years before the 1997-98 income year. See section 387‑315 of the Income Tax (Transitional Provisions) Act 1997.

 (3) This deduction is in addition to a deduction under section 387‑305 for expenditure on establishing the grapevine.

387‑320  Deductions for quasi-owners of land with grapevines

 (1) You are treated for the purposes of this Subdivision as if you own a grapevine so long as:
 (a) the grapevine is attached to land you hold under a
*quasi-ownership right granted by an *exempt Australian government agency or an *exempt foreign government agency; and
 (b) the grapevine was planted by you or a previous holder of the land under the quasi-ownership right; and
 (c) apart from this section, you do not own the grapevine.

 (2) So long as you are treated under this section as owning the grapevine, no other entity is taken to own it for the purposes of this Subdivision.

Subdivision 387‑E—Mains electricity supply

Guide to Subdivision 387‑E

387‑350  What this Subdivision is about

      You can deduct over 10 years your capital expenditure on connecting or upgrading the supply of mains electricity to land for use in a business if you have an interest in the land.

Table of sections

Deductions

387‑355 Deducting expenditure on connecting power to land or upgrading the connection
387‑360 Meaning of connecting power to land or upgrading the connection

Limits on deductions

387-365 Deduction denied if electricity not used as intended
387‑370 Expenditure relating to