INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
(a) there is an amount of establishment expenditure for a horticultural plant; and
(b) the number of years in the effective life of the plant is less than 3; and
(c) at a particular time during a year of income, a taxpayer became the first entity to use the plant, or to hold the plant ready for use:
(i) for the purpose of producing assessable income; and
(ii) in a business of horticulture; and
(d) the taxpayer owned the plant at that time;
100% of the establishment expenditure is allowable as a deduction to the taxpayer for the year of income.
Establishment expenditure is defined by section 124ZZJ .
Effective life is defined by section 124ZZK .
Ownership is given an extended meaning in relation to leases and licences by section 124ZZQ .
Entity is defined by section 124ZZR .