AJ & PA McBride Ltd and Commissioner of Taxation (Taxation) [2020] AATA 1909

TAXATION – Income tax – deductions – depreciating assets – capital allowance system – Division 40-F of the Income Tax Assessment Act 1997 – where a primary producer purchases a sheep station which includes fencing assets – where parties request a preliminary issue to be determined – the preliminary issue is whether the primary producer is entitled to an immediate deduction for capital expenditure on fencing assets acquired as part of the purchase of the sheep station – no deduction allowed

Full decision here