Tax Guide to Farming, Forestry and Fishing, 3rd Edition

New Zealand’s primary sector continues to dominate our export earnings. In 2019 export revenue is forecast to reach over $45 billion. Given its strategic importance, it is unsurprising that the sector has a specialised and diverse set of tax regimes, all of which are brought together in the Tax Guide to Farming, Forestry and Fishing.

In addition to covering these special regimes, this book also covers some of the more general tax principles that are likely to affect farming, forestry and fishing.

This third edition has been fully updated to include all legislative and Inland Revenue policy changes up to August 2019, including the new bloodstock rules, changes to the tax treatment of  farmhouse expenses, repeal of the adverse event scheme for income equalisation, overhaul of the schedular payments rules, the application of the bright-line test to farming properties, and new IR rulings on deductibility of resource consents. 

Topics covered include:

• income aspects of farming
• farming expenditure and deductions
• income equalisation schemes
• bloodstock
• livestock
• the farmer as employer
• subdivision of farm land
• horticulture, viticulture and beekeeping
• forestry
• fishing and aquaculture.

This book is a valuable resource for tax advisers and their clients working in the farming, forestry and fishing sectors.