Can a farmer who leases land deduct the tax book value of horticultural plants on the land when the lease ends?
This question we’ve been asked considers whether a lessee farmer, who carries on a farming business on leased land, can deduct the remaining diminished value (the tax book value) of the expenditure incurred on planting horticultural plants in the income year the lease on the farmland ends.
If you would like a copy of this in Word, contact us using the Feedback button below.