Tax planning and the herd basis elections
Tax planning and the herd basis elections
- 1992
- Farm Tax Brief 7(4) April 1992, 27-28(2) .
Tax planning for the livestock farmer rests on two bases: the treatment of animals as trading stock or as a capital asset. Election to the latter, `herd basis`, is irrevocable, so the article debates the pros and cons of each approach.
EXTRA-STATUTORY CONCESSION B11
FARMING
HERD BASIS
TAX PLANNING
TAXES ACT 1988 SCH 5
Tax planning for the livestock farmer rests on two bases: the treatment of animals as trading stock or as a capital asset. Election to the latter, `herd basis`, is irrevocable, so the article debates the pros and cons of each approach.
EXTRA-STATUTORY CONCESSION B11
FARMING
HERD BASIS
TAX PLANNING
TAXES ACT 1988 SCH 5