Document ID: chunk:federal_register_of_legislation:C2017C00169:clause:2_19
Version: federal_register_of_legislation:C2017C00169
Segment Type: clause
Provision Reference: sch 2 cl 19
Character Range: 13971–15710

19  At the end of section 40‑555
Add:

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 purposes of section 40‑50 and this Subdivision: see section 40‑53.
 (6) You cannot deduct an amount for any income year for capital expenditure on a *fencing asset to the extent that any entity has deducted or can deduct the amount under subsection 40‑630(1) (about landcare operations).
 (7) You cannot deduct an amount for any income year for capital expenditure on a *fencing asset if the fencing asset is (or is a repair, alteration, addition or extension to):
 (a) a stockyard or pen; or
 (b) a portable fence.