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IMMEDIATE DEDUCTION FOR FENCING OR FODDER STORAGE ASSETS

If you are a primary producer, you may be entitled to claim a deduction for capital expenditure incurred on fencing and fodder storage assets.

The deduction will be limited to capital expenditure you incur for the construction, manufacture, installation or acquisition of a fencing or fodder storage asset.

The expenditure must have been incurred primarily and principally for use in a primary production business conducted on land in Australia.

If you are not a primary producer, a deduction can’t be claimed for fencing and fodder storage assets under these provisions. However, you may be entitled to a deduction under other provisions if these assets are used to produce income.

For more information visit:

https://www.ato.gov.au/business/primary-producers/in-detail/capital-expenditure/fencing-and-fodder-storage-assets/

Please contact Fiona Cook, Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.      

WHO IS MY BOOKS & PAYROLL?

Bookkeeping is a key function of any business. We can simplify this process and give you back your time to concentrate on important elements which make your business great.

“My Books & Payroll” experienced bookkeepers, Cate and Emma offer a comprehensive bookkeeping service or tailored account services. 

Full function payroll management
Superannuation, salary sacrifice, payroll tax and end of financial year obligations

Account management
Accounts payable, Accounts receivable, Bank reconciliations

Reporting
Financial and statistical reporting

BAS
Preparation and lodgement
 
To speak with Cate or Emma, please call (03) 5427 8118 or email mybooks@lmck.com.au

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