Primary producers deductions

Calculating the decline in value of grapevines

If a grapevine is planted and first used by you in a primary production business, the decline in value of the grapevine is worked out under the provisions relating to horticultural plants.

Calculating the decline in value of horticultural plants

You can claim a deduction for the decline in value of horticultural plants that you own and use in a business of horticulture to produce assessable income.

Primary producers

The tax laws include special provisions for primary producers. To use these you need to check you meet the Tax Office's definition of carrying on a business of primary production.

Primary production activities

Primary producers run a business of plant or animal cultivation, fishing or pearling, or tree farming or felling.