Thu, 18 Feb|
Jerramungup Community Resource Centre
Lincolns Rural Tour 2021
Come along and learn something new — nab your FREE tickets while you can!
Time & Location
18 Feb 2021, 9:30 am – 2:00 pm
Jerramungup Community Resource Centre, 8/10 Tobruk Rd, Jerramungup WA 6337, Australia
About the Event
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.