You may be entitled to claim a deduction for capital expenditure incurred on a water facility if you are:
- a primary producer
- an irrigation water provider – for expenditure incurred on or after 1 July 2004
If you are an irrigation water provider, your expenditure must have been incurred primarily and principally for the purpose of conserving or conveying water for use in primary production businesses. The deduction must be reduced to reflect any time when the facility was not wholly used for a taxable purpose.
You can’t claim a deduction for a swimming pool even though the water is available for emergency use, such as for fire-fighting or irrigation.
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