Life Interests Testamentary Trusts

IMMEDIATE DEDUCTION FOR FENCING OR FODDER STORAGE ASSETS

If you are a primary producer, you may be entitled to claim a deduction for capital expenditure incurred on fencing and fodder storage assets.

The deduction will be limited to capital expenditure you incur for the construction, manufacture, installation or acquisition of a fencing or fodder storage asset.


The expenditure must have been incurred primarily and principally for use in a primary production business conducted on land in Australia.


If you are not a primary producer, a deduction can’t be claimed for fencing and fodder storage assets under these provisions. However, you may be entitled to a deduction under other provisions if these assets are used to produce income.


For more information visit:

Please contact Fiona Cook, Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.


We provide
accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.
   
   

The content within these articles was correct at the time of writing. Please contact us for updated information and advice. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

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