Good news for farmers - new tax measure now effective immediately

Farmers are relieved by the Federal Government’s decision to bring forward the start date for new farm tax breaks.  

On 12 May 2015 the government announced that farmers would be able to deduct the full cost of water facilities and fencing in the year in which they were purchased, and depreciate the cost of fodder storage assets over three years. However, those tax breaks were not due to start until the 2016-17 year. 

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