Decline in value of leisure facilities and boats

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This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

Your deduction for the decline in value of a leisure facility or boat may be reduced even though it is used, or installed ready for use, for a taxable purpose. Your deduction is limited to the extent:

• the asset's use is a fringe benefit
• a leisure facility is used, or held for use, in the course of your business or for your employees, or
• a boat is used, or held for use, mainly for hiring out, mainly for transporting the public or goods for payment, or for a purpose that is essential to the efficient conduct of your business.