Agriculture

Agriculture

Cambrian Hill Accounting Ballarat has experience in offering Accounting and Tax services to Individuals and Businesses in the Agriculture Industry i.e Broadacre, Cattle, and Horse Breeding.

Primary Producers (PP) have access to a range of deductions for capital expenditure such as investment in water facilities, fencing and fodder storage assets.   PP’s can also categorise certain buildings and structural improvements as depreciable assets.

A drought determination in the PP’s location provides special rules on the disposal of stock.  Depending on the PP location, they may be eligible to they may be able to claim exempt housing accommodation for workers.

More recently, primary producers have been increasingly adding Wind Farm licensing arrangements to sections of their property.  It is important to ensure that any amounts received are allocated correctly between income and capital and that longer term implications are considered.