FODDER STORAGE ASSETS - IMMEDIATE TAX WRITE OFF


Primary producers can immediately deduct (rather than depreciate over three years) the cost of fodder storage assets, such as silos and hay sheds used to store grain and other animal feed storage, making it easier for farmers to invest in and stockpile fodder.

This measure will be available for fodder storage assets first used or installed ready for use from 19 August 2018, and is in addition to the instant asset write-off already available for small businesses.