Farm Acquisition Depreciation Schedules by Herron Todd White


Farm Acquisition Depreciation Schedules by Herron Todd White

It’s tax time 2018 – and in Herron Todd White’s June Rural Overview, National Rural Director Tim Lane reminds purchasers of the possible annual deductions associated with the creation of a tax depreciation schedule on an acquisition.

Tim’s information is appended below. 

With another tax year about to close and given the ongoing transactional activity in the market, this is a timely reminder to our readers that our rural valuers can assist purchasers with the creation of a tax depreciation schedule on an acquisition. This report can be provided to your accountant and complies with the ATO requirements for the creation of a schedule of depreciation.

The service has been part of Herron Todd White for 11 years and we undertake this work nationally on every type of agricultural and investment property you can imagine. If you have bought a property recently, or in the past 3 years even, and have not had an assessment undertaken then you should be contacting your local Herron Todd White office to get a quote and guidance on the outcome.

A typical grazing holding could easily attract $30,000 pa or more annual deductions and with a fee to undertake fully tax deductible and about 1/10th the annual benefit this really does make sense for many.

For the entire Herron Todd White Rural Overview for June 2018 please >> click here.

About Herron Todd White – Rural

With a rural valuation network covering 96% of Australia’s vast area and almost 40 commodity classes, Herron Todd White’s Rural team comprises a level of skill and expertise that is unparalleled.

Herron Todd White’s Rural team of experienced valuers are part of Australia’s regional and rural communities. They know the local region and the industries which are its backbone. Many of their rural team have been involved in agricultural production, giving them a unique insight into rural property and agribusiness.

Drawing on an extensive database of rural land values, combined with up-to-the minute research into commodity prices and property market trends, their rural team can provide sound advice on a variety of rural business and property portfolios including:

  • Cattle
  • Sheep
  • Grain
  • Sugar cane
  • Cotton
  • Horticulture
  • Viticulture
  • Aquaculture
  • Irrigated farming
  • Water entitlements
  • Feedlots
  • Piggeries
  • Poultry
  • Trees fruits and nuts
  • Compensation and litigation
  • Family succession and property transfer

Click here for the Herron Todd White website and contact details: https://www.htw.com.au/property-valuation/agribusiness/