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Taxation issues
Taxation matters
While taxation matters affect the competitiveness and profitability of the DAFF portfolio industries, prime responsibility for the administration and interpretation of taxation legislation rests with the ATO. Prime responsibility for taxation policy rests with the Department of the Treasury.
The following links provide information about tax matters relevant to primary producers.
Tax Office Primary Production Industry Partnership Forum
The ATO in conjunction with DAFF and other primary production industry groups have developed the Tax Office Primary Production Industry Partnership as a forum to assist primary producers and small businesses in rural and regional Australia to deal with a broad range of taxation issues.
Through this forum, the ATO aims to:
- identify ways to minimise the costs of complying with tax obligations
- advise of emerging issues that may be relevant or significant to the industry
- develop better strategies to address compliance risks in the industry
- better understand and meet the communication needs of the industry
- seek feedback on its service delivery and performance.
The ATO website provides a detailed explanation of how this forum operates, minutes of meetings and an issues register. This register contains a list of major primary production issues and questions that have been collated as a result of consultations through the Primary Production Industry Partnership.
ATO contacts
The ATO website provides details of how to contact the ATO by phone, in person or by mail.
Drought Taxation
Drought taxation for information about taxation implications for primary producers suffering the effects of drought.
Farm Management Deposits
Farm Management Deposits for information about the Farm Management Deposits scheme, a tax-linked risk management tool which allows producers to deal with variable income.
Fuel tax schemes
Fuel tax schemes - The ATO website contains detailed information on credits available for fuel used by primary production businesses.
Forestry taxation
Forestry taxation - In the 2005–06 Budget, the Australian Government announced a review of tax arrangements for forestry plantations.
Review of non-forestry managed investment schemes (MIS)
Review of non-forestry managed investment schemes (MIS) - On 1 August 2008, the Australian Government announced a comprehensive review of the costs and benefits of non-forestry MIS. Submissions were open for a period of six weeks, closing on 12 September 2008. The submissions received will be incorporated into a discussion paper to be produced by the Department of Treasury.
Landcare taxation
Follow these links for information about landcare taxation concessions.
Bushfire related taxation issues
The ATO website offers information about tax matters for people who have been affected by bushfires.
Other general taxation issues
The ATO website provides a range of information and services about tax matters useful to primary producers. These include:
- Primary producer essentials
- Information for primary producers 2007-08
- General tax information for businesses
- Dealing electronically with the ATO
- Small business capital gains tax concessions
- Alignment of thresholds for small business concessions and provisions
- The Government’s new rules relating to the taxation of superannuation