Wood remains the most popular option for building houses, but steel frames are also worth considering.
Steel-framed houses have been around for a long time, but their slightly higher cost keeps most people from using them. Steel and timber can both make strong houses, and both meet national guidelines.
So what is the difference? What are the reasons for considering building a house with a steel frame?
- They’re safer.
A steel framed house is much more resistant to weather extremes than wood framing. Steel framing is particularly important for Australian buildings because they’re often in danger of bushfires. Steel is much less likely to be damaged by fire, and can combined with stone work to create a fire-resistant home.
Central Steel Build only builds frames. Our clients often hire third parties to install things like stone facades.
- Freedom of design.
Steel is known for its strength and adaptability. If you want to design a home that’s unique and interesting, steel is your best option. It can span larger distances and can be fabricated into unique shapes and curves that aren’t possible with wood.
- Faster construction.
Steel home house frames can be put together much faster than wood frames, saving you the time and costs involved with installation.
- Steel frames are recyclable.
Steel frames are much better for the environment. They can be recycled if your house is ever removed or changed and they aren’t sourced from forests like timber is.
- Termite resistance.
Termites won’t be able to damage the structural integrity of your home. Although steel framed houses aren’t entirely termite-proof (wood details can still be damaged), it’s highly unlikely that any significant costs will be spent repairing termite damage.
To find out more about out steel-framed buildings, download a DesinaBuild brochure at the top of our website.
Immediate tax deductions for fodder storage assets
Primary producers may be able to immediately deduct (rather than depreciate over three years) the cost of fodder storage assets, such as silos and hay sheds used to store grain and other animal feed, making it easier for them to invest in and stockpile fodder. Primary producers who store fodder for sale may also be entitled to this deduction.
This measure is available for fodder storage assets first used or installed ready for use on or after 19 August 2018.
’Immediate’ or ‘instant’ doesn’t mean you get cash back from the tax office straight away, it means that you can reduce your taxable income, and your tax payable, in the financial year that they were bought and installed. Business.gov.au explains that ‘immediate’ or ‘instant’ write-off is also called accelerated depreciation or instant depreciation.
Fodder Storage Asset
A fodder storage asset is an asset that is primarily and principally for the purpose of storing fodder.
A fodder storage asset is also a structural improvement, a repair of a capital nature, or an alteration, addition or extension, to an asset or structural improvement, that is primarily and principally for the purpose of storing fodder.
Fodder refers to food for livestock, such as grain, hay or silage. It can include liquid feed and supplements, or any feed that could fit into the ordinary meaning of fodder.
‘Primarily and principally’ Test
For a fodder storage asset to satisfy the ‘primarily and principally for the purpose of’ test, its main purpose must be to store fodder.
For example, a shed that is originally built for the purpose of storing hay but is occasionally used to store a neighbour’s tractor that is borrowed twice a year may still meet the ‘primarily and principally’ test. This is because its main purpose is to store fodder. Occasionally storing the neighbour’s tractor is insufficient to displace the shed’s purpose as primarily and principally to store fodder.
However, if a cotton farmer purchases a silo which is used to store seed not intended for animal consumption, the silo does not meet the ‘primarily and principally’ test. This is because the main purpose of the silo is not to store fodder.
Similarly, if a grain farmer purchases a silo to store harvest that is designed for human consumption, the silo does not meet the ‘primarily and principally’ test. This is the case even if the whole harvest is ultimately used to feed livestock.
On the other hand, if a grain farmer grows feed grain and stores it in a silo for sale to livestock producers, the silo meets the ‘primarily and principally’ test because the main purpose of the silo is to store fodder.
Where an expense is incurred for several purposes, the ‘primarily and principally’ test requires an examination of the primary and principal function of what is produced by incurring the expense.
For example, a shed that is originally built for the purpose of storing a tractor but is, in practice, mainly used to store hay may still meet the ‘primarily and principally’ test. This is because its main purpose is to store fodder.
For dual purpose assets with integrated but separate functions, the primary and principal purpose of the asset must be to store fodder. For example, if an asset is used for both storing fodder and feeding animals, the animal-feeding component must be merely incidental to the asset’s primary and principal purpose of storing fodder. It will not meet the requirements of a fodder storage asset if its primary and principal purpose is for feeding animals.
Typical fodder storage assets
Typical examples of fodder storage assets include:
- liquid feed supplement storage tanks
- bins for storing dried grain
- hay sheds
- grain storage sheds
- above-ground bunkers.
For more information and updates please contact the Australian Taxation Office.
Please Note: Information provided in this article is of a general nature. It does not take into account your personal financial circumstances. Tailored professional advice should be sought before acting on any of the information contained.
Gorgeous Indoor Riding Arena in Autumnal Mornington Peninsula
One of our most beautiful builds owes much of it’s majesty to the trees & plants around it.
A magnificent property in Red Hill, Mornington – this stunning indoor is a shining example of a great project.
See the photos and video below.
Watch the video below or click here to view on youtube.