It is crucial for farmers and their advisors to understand the tax rules and incentives available for farming operations, as the application thereof might be complex and where done incorrectly, may be to the detriment of the farmer.
We offer a session to discuss and address the tax rules specifically applied to farming operations.
This session will address the following:
• Special tax provisions applicable to farming operations
o Specific deductions granted and the determination of taxable income from farming
o Valuation of livestock and produce for tax purposes
o Ringfencing provisions
o Ceasing farming operations
• Brief overview of the VAT and Diesel rebate available for farming operations
All taxpayers that conduct farming operations or their tax advisors might benefit from this course.
