ARTICLE · 16 MAY 2014

Tax planning for farmers

Moore Australia

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As we approach the end of the financial year, these are reminders of areas to manage in order to get the best results.

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Tax Planning for Farmers

Tax planning is the process of organising the affairs of a taxpayer or a group of taxpayers so that, as far as legally or commercially possible, the liability of the taxpayer or group of taxpayers to income and other taxes is minimised.

Tax planning is not limited to complex, high risk or sophisticated arrangements. Taxpayers contemplating even the most ordinary transactions should give proper consideration to tax planning (and, in particular, to Capital Gains Tax issues) to ensure that they do not suffer adverse tax consequences. As we approach the end of the financial year, here are some reminders of areas that you can manage in order to get the best results.

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