Actual cost of planting defines deductible planting components and caps, requiring finalisation before claiming the allowance. Section 33A(7) defines Actual Cost of Planting as the aggregate of land preparation, seeds/cuttings and nurseries, planting and replanting, and upkeep for ... Summary
Actual cost of planting defines deductible planting components and caps, requiring finalisation before claiming the allowance.
Section 33A(7) defines Actual Cost of Planting as the aggregate of land preparation, seeds/cuttings and nurseries, planting and replanting, and upkeep for the year of preparation plus the following three years, reduced by amounts met by others, subject to disregarding per-hectare expenditure exceeding specified caps for different area categories; the allowance is a development allowance tied to the finalisation of the multi-year planting process.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
