Lincolns Rural Tour 2021

Did you know you will learn about new tax laws that will impact your 2021 farm cash flow.

In 2020/21 you can write off 100% of:

• Any new plant bought;
• Any second hand plant bought; and
• Your existing pooled plant value (yes, the whole lot).

This gives you a great tax planning opportunity to:

• Pay little or no tax in 2020/21;
• Withdraw any farm management deposit you may have; or
• Sell grain and wool this year rather than defer payment until July 2021.

But “all that shines is not gold”

What impact is there on your 2021/22 and future tax years given:

• You have no plant depreciation to claim;
• Any future plant sales or plant trade-ins will be 100% taxable; and
• What impact does this have on future tax bills.

In addition to this we we’ll also be covering Farm Succession and Human Resource compliance.