Special Collections at Murdoch University

Special Collections at Murdoch University

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Reforms fair to farmers - Kerin

Driver, M. (1985) Reforms fair to farmers - Kerin. Elders Weekly, 26 September 1985. p. 6 [Publication] [Special Collections]

Summary

The Federal Government is imposition of a ceiling of $30,000 on non-farm income against which farm losses can be claimed as a tax deduction, and closed off the tax minimisation route whereby people who are not farmers could previously write-off unlimited losses from a farm investment against their personal tax. The restriction placed on investors or part-time farmers will benefit the genuine farmers. To accommodate the rises and falls of the rural economy farmers will now have the opportunity to average their income over five years. The Minister for Primary Industry, John Kerin said the tax reforms were fair to farmers, treating them in the same manner as other small businesses. The farmers would appreciate the fairness of the reforms when they see their marginal rates of income tax fall, Mr Kerin said.

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This article is part of the WISALTS (Whittington Interceptor Sustainable Agriculture Land Treatment Society Incorporated) Collection.

Item Type: Special Collections
Collection: WISALTS Collection
Copyright: ©1985 Elders Weekly
Notes: 1 newspaper clipping
URI: http://researchrepository.murdoch.edu.au/id/eprint/58899
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