Fodder Storage assets can now be written off as a deduction immediately and in full, instead of over 3 years as has previously applied since 2015.

The new rules apply to fodder storage assets first used or installed ready for use on or after 19 August 2018 primarily in a primary production business for the producer’s own livestock.

Typical examples of fodder storage assets include: silos, liquid feed supplement storage tanks, bins for storing dried grain, hay sheds, grain storage sheds, and above-ground bunkers.

Of course if the asset cost less than $20,000 then the Small Business write-off could have also applied, however that threshold is due to change at 30 June 2018 back to $1,000.  This new measure will continue indefinitely, and has no dollar limit.