There is general concession available in the community, talk to Tax Ideas Accountants & Adviser to find out more about special tax treatments with primary producers.
- Plant or animal cultivation
- Fishing or pearling
- Tree farming or felling
Various factors should be considered in determining if an activity is of primary production. Primary certificates provide some concession within the community, that being said, a primary producer is entitled to special tax concessions. There are certain criteria that needs to be met in order to run a primary production business line, that is related to the size and scale of the business and profitability.
There are certain tax rules which are strictly followed in terms of the income revenue of primary production business line, to find out more information about this area, or if you are interested in starting one, please come and talk to us Tax Ideas Accountants & Advisers, we can provide professional advice and put together a good Tax Savings Plan for you to ensure that you are entitled to the right claim on Tax Return.