Tax Accounting and Livestock in Australia - Fullarton, Lex;Pinto, Dale
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The authors take an in-depth look at an accepted practice of classifying ALL animals held in a business of primary product in Australia as revenue assets regardless of the function they perform in that business. This practice denies retiring farmers tax concessions granted to other businesses. They describe the practice as unfair, and after a deep examination of the circumstances that gave rise to the generally accepted accounting and tax interpretation, they find that it is not true. They report their story and point their fingers at a glaring tax injustice.

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Produktbeschreibung
The authors take an in-depth look at an accepted practice of classifying ALL animals held in a business of primary product in Australia as revenue assets regardless of the function they perform in that business. This practice denies retiring farmers tax concessions granted to other businesses. They describe the practice as unfair, and after a deep examination of the circumstances that gave rise to the generally accepted accounting and tax interpretation, they find that it is not true. They report their story and point their fingers at a glaring tax injustice.
Autorenporträt
Dr Lex Fullarton is Adjunct Professor at Curtin Law School, Curtin University. He is a solar farmer in Carnarvon, Western Australia and former public practitioner. He has previously published Heat, Dust and Taxes (2015); Watts in the Desert (2016); The Artful Aussie Tax Dodger (2017); and [T]Axing Greenhouse Gases (2019). Prof Dale Pinto is John Curtin Distinguished Professor of Taxation Law, Curtin Law School, Curtin University. He has previously published E-Commerce and Source-Based Income Taxation (2003). He contributed to Australian Taxation Law (2016¿2021) and is contributor to the Australian Master Tax Guide 2022¿current.
Rezensionen
"As a practising tax lawyer, I find myself thoroughly shocked by the lifelong incorrect assumptions I held regarding the taxation of livestock. I can take solace in the fact that both the ATO and my fellow practitioners have also been living under the same misinterpretation of the law. Thanks to the authors, whose strong academic rigour and extensive research have elucidated the correct position on the taxation consequences of livestock, we now have a clearer understanding. We are indeed fortunate to benefit from the expertise of such heavyweights from the esteemed Curtin University Business School, generously providing this invaluable research to the community." -Dr Brett Davies, Adjunct Professor University of Western Australia, National Tax Partner, Legal Consolidated Barristers and Solicitors