In a surprising and welcome update to the recent budget announcements, the government has brought forward its change in depreciation for farmers for fences, water assets and fodder storage assets. The immediate deduction for fences and water assets and the three year life depreciation for fodder storage assets will now commence from budget night i.e 7:30pm on 12 May 2015. This is great news as they had originally slated this to start in the 2017 financial year.
After bringing this to Treasury’s attention in my previous post it looks like they have seen the light. Well done!