Document ID: chunk:federal_register_of_legislation:C2004A00844:clause:1_6:p5
Version: federal_register_of_legislation:C2004A00844
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 5/18)
Character Range: 126437–129071

of the land classes to prevent land degradation; and
 (b) describes the kind of fencing and how it will prevent land degradation; and
 (c) has been prepared by, or approved in writing as a suitable plan for the land by:
 (i) an officer of an *Australian government agency responsible for land conservation who has authority to do so; or
 (ii) an individual who was at the time approved as a farm consultant under this Subdivision.

40‑645  Electricity and telephone lines

 (1) You can deduct amounts for capital expenditure you incur on *connecting power to land or upgrading the connection if, when you incur the expenditure:
 (a) you have an interest in the land or are a share‑farmer carrying on a *business on the land; and
 (b) you or another entity intends to use some or all of the electricity to be supplied as a result of the expenditure in carrying on a business on the land for a *taxable purpose at a time when you have an interest in the land or are a share‑farmer carrying on a business on the land.

 (2) You can also deduct amounts for capital expenditure you incur on a telephone line on or extending to land if, when you incurred the expenditure:
 (a) a *primary production business was carried on the land; and
 (b) you had an interest in the land or you were a share‑farmer carrying on a primary production business on the land.

 (3) The amount you can deduct is 10% of the expenditure:
 (a) for the income year in which you incur it; and
 (b) for each of the next 9 income years.

Note 1: Various provisions may reduce the amount you can deduct or stop you deducting. For example, see:
                   *  Division 26 of this Act (limiting deductions generally); and
                   *  section 40‑650 of this Act (specifying expenditure you cannot deduct under this Subdivision); and
                   *  Division 245 of Schedule 2C to the Income Tax Assessment Act 1936 (which may affect your entitlement to a deduction if your debts are forgiven).

Note 2: If you recoup an amount of the expenditure, the amount will be included in your assessable income. See Subdivision 20‑A.

40‑650  Amounts you cannot deduct under this Subdivision

 (1) You cannot deduct amounts for capital expenditure you incur on *connecting power to land or upgrading the connection if, during the 12 months after electricity is first supplied to the land as a result of the expenditure, no electricity supplied as a result of the expenditure is used in carrying on a *business on the land for a *taxable purpose.

 (2) If you deducted an amount for any income year under this Subdivision for the expenditure, your assessment