Water Infrastructure 100% Tax write off
As a Primary producer or an Irrigation water provider to the agriculture sector you may be entitled to claim a full deduction for capital expenditure incurred on a water facility.
According to the ATO If capital expenditure was incurred on a water facility from 7.30pm (AEST), 12 May 2015 you deduct the whole amount in the income year in which you incurred the expenditure.
Water infrastructure includes but is not limited to the installation of Steel Water Tanks, please follow the link to the ATO website below for further information.
*Please consult with your financial adviser on the tax implications of your purchase.
If you are not a primary producer but own a small business you can also write off your water tank purchase under $20 000 in 2016.
There is no better time than now to invest in your new Pioneer Water Tanks
Water tanks and other infrastructure purchased before 30 June 2016 can be claimed as an immediate 100% tax-deductible item in your 2016 tax return.
ACT NOW OR MISS OUT
PIONEER WATER TANKS ARE:
• 100% Australian made using Bluescope® next generation Zincalume Steel
• Available Australia-wide
• Completely drink safe and durable thanks to Pioneer Water Tanks’ exclusive Aqualiner® and V-LOCK technology
• Queensland Development Code Part 3.7 – Farm buildings
• Fire safety ready with one simple fitting
• Fully customizable with a range of accessories.
Pioneer Water tanks Discover the Difference You’ve made the right Choice
For all information and for a quotation please
Call Divine Water Tanks at 07 3376 8265
Email Divine Water Tanks sandy@divinewatertanks.com.au
The water infrastructure 100% tax write off has been put in place to encourage primary producers to invest in sustainable water solutions. Steel Water tanks are proving to be a popular investment as Pioneer Tank can be installed very quickly and efficiently with location of tanks to suit your requirements. Pioneer have been supplying the rural market for close on 30 years with the tanks standing the test of time in the harshest of Australian conditions.
Some of the key advantages of a Steel Water tank includes the secure and safe storage of your precious water resources, reduced evaporation, reduced energy consumption (pumping), 20 to 30 year life expectancy. Tanks can be installed right next to the bore or dam or located in positions to best suit your irrigation needs. Pioneer Water Tanks can also be fitted out to meet the requirements of the Queensland Development Code Part 3.7 – Farm buildings.
Extract form ATO website
Definitions
Water facility
“A water facility is plant or a structural improvement, or an alteration, addition or extension to plant or a structural improvement that is primarily and principally for the purpose of conserving or conveying water.
For expenditure incurred on or after 1 July 2004, a water facility also includes:
capital repairs to plant or structural improvements that are primarily for the purpose of conserving or conveying water, and
a structural improvement, or an alteration, addition, extension or capital repair to a structural improvement that is reasonably incidental to conserving or conveying water.
Water facilities include:
dams
earth tanks
underground tanks
concrete or metal tanks
tank stands
bores
wells
irrigation channels or similar improvements
pipes
pumps
water towers
windmills
extensions or improvements to any of these items.
Things that are reasonably incidental to conserving or conveying water include:
a culvert
a fence to prevent livestock entering an irrigation channel
a bridge over an irrigation channel.
No deduction is available for capital expenditure incurred on acquiring a second-hand commercial water facility unless you can show that no-one else has deducted or could deduct an amount of earlier capital expenditure on the construction or previous acquisition of the water facility.
Irrigation water provider
An irrigation water provider is an entity whose business is primarily and principally the supply (other than by using a motor vehicle) of water to primary producers”
For all information and for a quotation please
Call Divine Water Tanks at 07 3376 8265
Email Divine Water Tanks sandy@divinewatertanks.com.au