Horticultural Plants
<p >You can claim a deduction for the decline in value of horticultural plants, provided:</p>
<ul >
<li >you own the plants – lessees and licensees of land are treated as if they own the horticultural plants on that land</li>
<li >you use them or held ready for use in a business of horticulture to produce assessable income</li>
<li >total amount of the deductions does not exceed the amount of capital expenditure incurred on the plant</li>
<li >the expense was incurred after 9 May 1995</li>
</ul>
<p >A horticultural plant is a live plant or fungus that is cultivated or propagated for any of its products or parts.
You cannot claim this deduction for forestry plants.
These deductions are not available to a partnership. Costs incurred by a partnership in establishing horticultural plants are allocated to each partner who can then claim the relevant deduction in respect of their share of the expenditure.</p>