2023 Primary production

Capital allowances – Depreciation of primary production assets and structural improvements on primary production land

Source: QLD, Online

Published Date: 15 Jun 2023


Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

Given the highly capital intensive nature of primary production activities and the special capital allowance provisions available it is critical that deductions for the various capital expenditure items are fully utilised. While all taxpayers are enjo ying accelerated deductions in the form of temporary full expensing to 30 June 2023 dealing with the landscape going forward will no doubt provide challenges. This presentation provides a summary of the capital allowance provisions that are in play to 30 June 2023 and provide some future guidance.

This presentation covers the following topics:

  • The extended definition of depreciating assets applicable to primary producers and identifying who is the “holder” of the item
  • Deductions available for constructing dwellings to provide accommodation to employees on primary production land and the FBT consequences of providing accommodation in regional Australia.
  • Deductions available under Subdivisions 40-F and 40-G ITAA97 (and the SBE provisions) for new and existing structural improvements on land used for primary production operations
  • Preparing apportionments on the acquisition and disposal of items subject to the capital allowance provisions. The need for a valuation? What approach to take if you are acting for the vendor and the purchaser? and
  • Identifying the long-term tax consequences that may arise from the availability of accelerated deductions including issues that may arise on restructuring with particular reference to the potential use or non-availability of rollovers.


  • Published By: Tom Delany CTA
  • Published On:15 Jun 2023
  • Took place at:Hilton Brisbane & Online

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))


The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.


2023 Primary production

Share this page