1. Income Averaging to even out income and tax liabilities across 5 years
2. Immediate deduction for landcare operations such as drainage work to prevent erosion
3. Immediate deduction on fencing and water facilities such as dams, tanks, pumps etc.
4. Immediate deduction for horticulture plants with an effective life of less than three years
5. Ten year write off for electricity and telephone connections
6. Farm Management Deposits to carry over income from years of good cash flow and draw down that income in years of bad cash flow
7. Changing the legal structure of business without attracting capital gains tax, for example changing partnership to company.
Contact TAX RIZZ 👩💻👩💻 to avail expert tax advice for your primary production business 😊😊
Ph: (03) 8789 9786