Commonwealth of Australia Consolidated Acts Commonwealth of Australia Consolidated ActsWater facilities
(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.
Note: If Division 250 applies to you and an asset that is a water facility:
(a) if section 250-150 applies--the condition in this subsection is taken to be satisfied for the facility to the extent specified in a determination made under subsection 250-150(3); or
(b) otherwise--the condition in this subsection is taken not to be satisfied for the facility.
(2) One of the conditions in this table must be satisfied:
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Conditions relating to horticultural plants |
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Item |
Condition |
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1 |
You own the * horticultural plant and any holder of a lease, lesser interest or licence relating to the land does not carry on a * business of *horticulture on the land |
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2 |
The * horticultural plant is attached to land you hold under a lease, or a * quasi-ownership right granted by an * exempt Australian government agency or an *exempt foreign government agency, and: (a) the lease or quasi-ownership right enables you to carry on a * business of * horticulture on the land; and (b) any holder of a lesser interest or licence relating to the land does not carry on a * business of *horticulture on the land. |
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3 |
You: (a) hold a licence relating to the land to which the * horticultural plant is attached; and (b) carry on a * business of *horticulture on the land as a result of holding the licence. |
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Note: If Division 250 applies to you and an asset that is a horticultural plant:
(a) if section 250-150 applies--a condition in this subsection is taken to be satisfied for the plant to the extent specified in a determination made under subsection 250-150(3); or
(b) otherwise--the conditions in this subsection are taken not to be satisfied for the horticultural plant.