• Primary Production Exemption Extended

    Amendments to the Land Tax Assessment Regulations 2003 extend the primary production business exemption to apply to certain circumstances in which a primary producer is engaged in rearing farm animals that are owned by secondary producers.

    The Act currently provides an exemption for land used for a primary production business involving animals on condition the person carrying on the business is the owner of the animals.

    Effective from the 2018-19 assessment year, primary producers will be eligible for the exemption if they rear animals on behalf of another party who processes them or their produce for sale. The changes reflect current practice within the agricultural industry whereby some secondary producers contract farm the rearing of their animals to primary producers.

    For further details, see:

    Published date: 14 June 2018