Project Pool - Environmental Assessment Write Off
<h2 >Environmental protection activities</h2>
<p >You can claim an <strong >immediate deduction</strong> for expenditure for the sole or dominant purpose of carrying on environmental protection activities (EPAs). These are activities undertaken to prevent, fight and remedy pollution, and to treat, clean up, remove and store waste from your earning activity or a site on which another entity carried on a business that you acquired and carry on substantially unchanged as your earning activity.
Earning activities are defined as those carried on for the following purposes:</p>
<ul >
<li >producing assessable income (other than a net capital gain)</li>
<li >exploration or prospecting</li>
<li >mining site rehabilitation.</li>
</ul>
<p >You may also claim a deduction for expenditure on EPAs relating to a site if the pollution or waste is caused by another entity to which you have leased or granted a right to use the site.
Expenditure that is deductible as part of the cost of a depreciating asset is not also deductible as expenditure on an EPA.</p>