New Zealand

Details

  • Industry: Agribusiness
  • Type: Business and industry issue
  • Date: 19/09/2012

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Ian Proudfoot 

 

Ian Proudfoot

Lead Partner - Agribusiness & Food

09 367 5882

 

Ross Buckley 

 

Ross Buckley

Chairman - Agribusiness & Food

+64 9 367 5344

 

Field notes - Issue 142, 19 September 2012 

A summary of agribusiness sector stories that have been reported in the media over the last week.   

 

Tax Bill Introduces further livestock valuation changes

 

The government introduced the Taxaton (Livestock Valuation, Asset Expenditure and Remedial Matters) Bill on 13 September. This bill introduces further changes to the livestock valuation regime. It also includes tightening of the deductibility rules for mixed use assets and changes to GST rules.

 

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This week's headlines

 

  • Tax Bill Introduces further livestock valuation changes.
  • Biosecurity bill passed into law.
  • National horticulture body hangs on vote.
  • Talley's boss says crew's jobs are safe.
  • Beef, lamb farmers face 34% cut in income. 
  • Farm sales at highest level in three years.

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Taxmail - September Tax Bill introduced

Feature image
The centrepiece of the Bill is the tightening of the deductibility rules for assets used for both private and income-earning purposes.