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  • How does this apply to primary producers?

    The UCA system adopts the specific deduction provisions in the former law for certain expenditure and depreciating assets of primary producers. You can't deduct an amount under the general provisions of UCA rules, including low-value pooling, if you can claim a deduction for that expenditure or assets under the specific primary producer provisions. However, the low-value pooling provisions are available for assets that you can't deduct under the specific primary producer provisions.

    Where you're using a low-value pool and need to separate your deductions into those relating to primary production activities and those relating to non-primary production activities, you must apportion your deduction for the low-value pool on a reasonable basis. One way to do this is to keep records as if the deductions to be separated, and the assets the deductions relate to were in a separate pool.

      Last modified: 25 Jan 2017QC 16455