Open front shed project

A Guide to All the Available Tax Write-Offs for Your Farm Shed Project

Here is a guide to all the available instant tax write-off incentives –  temporary full expensing and the full write-off of fodder storage assets.

Temporary Full Expensing

  • From 6th October 2020 until 30th June 2023, businesses with a turnover of up to $5 billion will be able to deduct the full cost of eligible depreciable assets in the year they are first used and installed.
  • Businesses with a turnover of less than $50 million can also apply temporary full expensing to eligible second-hand assets
  • Assets can be of any value.
  • There is no limit to the number of eligible assets that can be written off.
  • The assets purchased must be installed and ready to use by 30th June 2023.
Examples of eligible assets include machinery sheds, workshops, sheep yard covers, cattle yard covers and shearing sheds.
Open front shed project
  • The cost of improvements made to existing eligible assets can also be fully written-off from 6th October 2020 to 30th June 2023.

For example, the full cost of extending your existing Action machinery shed can be written-off.

Write-Off the Full Cost of a Fodder Storage Asset

  • At this stage no cut off date has been introduced for this incentive.
  • You can claim a deduction for the full cost of a fodder storage asset that:
    • Was purchased on or after 19th August 2018, or before 19th August 2018 and it was first used or installed ready for use on or after 19th August 2018.
    • Is mainly used to store fodder
    • Is used in a primary production business on land in Australia
    • Claim the deduction in the year that you incurred the expense.


Contact the team at Action to discuss how these incentives can be applied to an Action shed, however please note that our advice is general onlySpeak to a qualified accountant to find out how this would apply to your business.

 Article updated June 2022.

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