Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)
Schedule 6 Irrigation water providers
Income Tax Assessment Act 1997
4 Subsection 40-525(1)
Repeal the subsection, substitute:
(1) The capital expenditure you incurred on the construction, manufacture, installation or acquisition of the *water facility must have been incurred:
(a) primarily and principally for the purpose of conserving or conveying water for use in a *primary production business that you conduct on land in Australia; or
(b) for expenditure incurred by an *irrigation water provider - primarily and principally for the purpose of conserving or conveying water for use in primary production businesses conducted by other entities on land in Australia, being entities supplied with water by the irrigation water provider.