Div 40 substituted for Divs 40, 41 and 42 by No 76 of 2001.
Subdiv 40-F inserted by No 76 of 2001.
S 40-530 substituted by No 67 of 2015, s 3 and Sch 2 item 15, applicable to assets that an entity starts to hold, or to expenditure an entity incurs, at or after 7.30 pm, by legal time in the Australian Capital Territory, on 12 May 2015. S 40-530 formerly read:
SECTION 40-530 When a water facility or horticultural plant starts to decline in value
water facility or horticultural plant starts to decline in value in the income year worked out using this table:
|Start of decline in value|
|Item||This asset:||Starts to decline in value in:|
|1||A *water facility||the income year in which you first incur expenditure on the facility|
|2||A *horticultural plant||(a)||if you are the first entity to satisfy a condition in subsection 40-525(2) for the plant
the income year in which the first commercial season starts; or|
| || ||(b)||if not
the later of the income year in which you first satisfied that condition and the income year in which the first commercial season starts|
|3||(Repealed by No 129 of 2004)|| || |
S 40-530 amended by No 129 of 2004 and inserted by No 76 of 2001.