INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART XII - DROUGHT INVESTMENT ALLOWANCE  

Division 4 - Key concepts: drought mitigation property and associated terms  

SECTION 650   650   MEANING OF DROUGHT MITIGATION PROPERTY  
There are 4 kinds of drought mitigation property :


(a) a fodder storage facility (see section 651 ); and


(b) a water storage facility (see subsection 652(1) ); and


(c) a water transport facility (see subsection 652(2) ); and


(d) minimum tillage equipment (see section 654 ).

Note:

In order for drought investment allowance to be available, the drought mitigation property must be for use in producing assessable primary production income (and other requirements must be satisfied).


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