Tax in Agriculture

Summary

​The industry issues portfolio provides support to Peak Industry Councils by commissioning and managing the development of industry policy research on priority issues identified and agreed upon by the PICs.   This report was funded in collaboration with other Australian agricultural research and development corporations and co-ordinated via National Farmers Federation.
Australias continued economic wellbeing depends on all levels of government facilitating an environment that drives economic growth.  A good tax system raises the revenue needed to finance the provision of government services without imposing unnecessary costs on the economy.

Agriculture needs to be able to poactively engage in the current taxation debate and therefore a report was commissioned to see how the current taxation system helps or hinders the agricultural sector by reviewing the following:

• Taxation measures that facilitate or impede agricultural industry investment
• Taxation measures that support or impede agricultural efficiency, productivity and sustainability
• Taxation measures that support or impede improved agricultural risk mitigation
• Taxation measures that support or impede agricultural succession planning
• Taxation measures that support or impede environmental management

This policy analysis resulted in a summary of key taxation areas that the agricultural sector could consider in terms of the taxation reform debate and how exisiting or new measures could contribute to the long term sustainability of the agricultural sector.