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  • Decline in value of leisure facilities and boats



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

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    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.
    Last modified: 01 Jun 2005QC 27453