A NEW research report has been released, analysing how the Australian taxation system impacts the profitability and sustainability of farmers.
Principal author of the Tax in Agriculture report, Jonathan Forrest of Boyce Chartered Accountants, said the report was a resource for agricultural groups and governments to inform their discussions on taxation policy as it relates to the sector.
“This report can help catalyse and underpin an open, productive debate on how the Australian taxation system helps and hinders Australian farmers,” Mr Forrest said
Rural Industries Research and Development Corporation (RIRDC) managing director John Harvey said the report will help to inform discussion within and between the agricultural sector and government decision makers on taxation policy and potential reform.
“The analysis will help stakeholders across many primary industries provide informed input into tax reform processes as they arise and positively influence how taxation impacts the sector,” Mr Harvey said.
“Areas of the tax system that help primary industries achieve positive productivity and sustainability outcomes are examined. The research also pinpoints areas where barriers exist and identifies possible alternative approaches.”
Mr Harvey said the report was not a policy position paper and did not make recommendations. It follows an initial scoping study and a taxation workshop involving key stakeholders earlier this year.
The research report was jointly funded by RIRDC, Dairy Australia, Australian Pork Limited, the National Farmers’ Federation, Australian Egg Corporation Limited, GrainGrowers and Meat and Livestock Australia. By working together on a common issue, the key agricultural and research and development organisations aim to develop a better understanding of how taxation issues impact the sector as a whole.
CLICK HERE to read the Tax in Agriculture report.
