ato logo
Search Suggestion:

Decline in value of leisure facilities and boats

Last updated 31 May 2005

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.