Published on 09 Jun 06
by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE
Futures, contracts, swaps go with the grain taxation implications of financial products available to primary producers.
The financial products Australian farmers have at their disposal have undergone a virtual grain marketing revolution in recent times with an array of marketing and pricing innovations becoming available.
Larger and more progressive farming clients are likely to be using some combination of products to manage their price risks, including possibly commodity swaps, spot and forward cash contracts, basis contracts hedge-to arrive contracts grain swaps and options.
This paper will assist advisers in sorting through the available options and determining the tax treatment.
Current at 22 June 2009