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The Top Five Primary Production Tax Issues

Published on 15 Jul 2003 | Took place at AMF Centre, Glenside, SA

It is important for practitioners to keep up to date on issues regarding primary producers. This workshop will give an overview of the main areas of interest as well as considering the important issue of who is a primary producer.

Individual sessions

Tax Update

Author(s):  Cathy SIMONS This presentation covers all tax changes that occurred in the previous month.

Materials from this session:

The Top Five Primary Production Tax Issues

Author(s):  Barbie CHIRO Topics covered in this presentation include:

  • Primary Production Business - What is it?
    • who is a primary producer?
    • carrying on a primary production business
    • structure

  • Primary Production Deductions
    • depreciating assets
    • capital expenditure
    • STS
    • Landcare operations

  • Deferral of Profits
    • forced disposals/death of livestock
    • elections

  • Non Commercial Losses
    • outline of rules and effect on loss
    • business activity vs hobby

  • Other Incentives
    • farm management deposits
    • PAYG instalments
    • government benefits.

    Materials from this session: