AU2014100381A4

AU2014100381A4 - Unitised ownership for protected cropping

Info

Publication number: AU2014100381A4
Application number: AU2014100381A
Authority: AU
Inventors: Bretton Cooper
Original assignee: Individual
Current assignee: Individual
Priority date: 2014-04-16
Filing date: 2014-04-16
Publication date: 2014-05-15
Anticipated expiration: 2022-04-16

Abstract

The present invention relates broadly to a method of hydroponically growing flowers or edible biomass in a covered and protected facility in which the undercover hydroponic growth assets ("Growth Pods") are owned by a number of different growers who have pooled their assets to be professionally managed on their behalf.

Description

1 AUSTRALIA Patents Act 1990 COMPLETE SPECIFICATION Unitised Ownership for Protected Cropping The following statement is a full description of this invention, including the best method of performing it as known to me: 2 Unitised Ownership for Protected Cropping FIELD OF THE INVENTION (01) The present invention relates broadly to a method of hydroponically growing flowers or edible biomass in a covered and protected facility in which the undercover hydroponic growth assets ("Growth Pods") are owned by a number of different growers who have pooled their assets to be professionally managed on their behalf. BACKGROUND TO THE INVENTION (02) In recent years there has been an expansion of knowledge and interest in using soil-less hydroponic technology to grow flowers and edible biomass, such a fruit, vegetables and herbs, in a protected cropping environment such as a greenhouse or other covered building structure. (03) A key technological development in this field of protected cropping has been the emergence of modular growth facilities consisting of integrated elements such a growing bench or framework with adjacent or overhead LED (light-emitting diode) growth lights. The addition of LED growth lights can significantly increase the volume of flowers or edible biomass which is produced in a given period. This integration of assets can be referred to as a "Growth Pod". (04) Each Growth Pod needs to be connected to water with nutrients which circulates as the hydroponic growth medium (05) Each Growth Pod also needs to be connected to electricity to operate the LED growth lighting. (06) Each Growth Pod can be designed so that it can operate on a stand-alone basis or be connected sequentially to other Growth Pods so as to operate as part of a modular multi unit protected cropping facility. (07) Typically, single Growth Pods, or groups of Growth Pods are owned by an individual grower (a "Grower") who will operate alone in hydroponically growing flowers or edible biomass. (08) However in Australia an innovative opportunity exists for multiple Growers to operate more efficiently by harnessing Commonwealth Government legislation relating to a Managed Investment Scheme (MIS) to facilitate a pooling of Growth Pods, owned by a multiple of Growers, into a single protected cropping facility, which is managed as a single 3 business undertaking by a contracted professional hydroponic manager acting on behalf of the Growers. (09) Such an MIS could enable Growers to operate more efficiently by allowing their manager to pool the purchase of their inputs (so as to lower unit costs) and coordinate the selling of their flowers or edible biomass output so as to improve selling prices and thereby improve overall margins and profitability. An MIS would enable these functions to be managed on behalf of the Growers by their contracted professional manger with experience and skills in the hydroponic industry. (10) Such an MIS may also enable a Grower to take advantage of accelerated depreciation allowances in the Australian Taxation legislation such as that providing immediate tax deductibility to small business enterprises under Division 328 of the Income Tax Assessment Act 1997 (the "Act"). This could apply to a qualifying Grower where the capital cost of an individual Growth Pod was below that of the cut-off threshold as set out in the Act (currently $1,000) and where the Grower was deemed by the Australian Tax Office to be "carrying on a business" of hydroponically growing flowers or edible biomass for sale. SUMMARY OF THE INVENTION (11) According to one aspect of the present invention there is provided a method of hydroponically growing flowers or edible biomass in a covered and protected facility in which the undercover hydroponic growth assets ("Growth Pods") are owned by a number of different Growers who have pooled their assets to be professionally managed on their behalf, by: a. Making use of Australian Commonwealth legislation which enables individual Growers to pool the management of their assets via a Managed Investment Scheme; and b. Making use of Australian Taxation legislation to enable individual Growers to benefit from an accelerated or immediate tax deduction for the capital cost of their Growth Pods ;

Claims

1. A method of hydroponically growing flowers or edible biomass in a covered and protected facility in which the undercover hydroponic growth assets are owned by a number of different Growers who have pooled their assets to be professionally managed on their behalf, said method comprising the steps of: Physically assembling or constructing undercover hydroponic growth assets consisting of integrated elements being a growing bench or framework with adjacent or overhead LED (light-emitting diode) growth lights; Arranging for one or more of such undercover hydroponic growth assets to be owned by one or more hydroponic Growers; Arranging for a multiple of such Growers to co-locate their undercover hydroponic growth assets in a single covered and protected facility; Arranging for such Growers, via a Managed Investment Scheme, to pool their growing operations via the appointment of a professional hydroponic manager who manages all the Growers undercover hydroponic growth assets on their behalf as a single business undertaking;

2. A method of hydroponically growing flowers or edible biomass in a covered and protected facility in which the undercover hydroponic growth assets are owned by a number of different Growers who have pooled their assets to be professionally managed on their behalf as described in claim 1, where the Managed Investment Scheme is legally structured such that one of more of the Growers is enabled, via the operation of the Australian Taxation laws, to enjoy an immediate or accelerated depreciation allowance for the capital cost of their undercover hydroponic growth assets .