With the recent review of the Dairy Goat NSC values, it was announced that the Dairy Goat values were set to increase significantly for 2018.
With the imminent increase, this would impact our goat farming clients quite substantially with the goat value changes resulting in increased income and consequently more tax.Chartered Accountants Australia and New Zealand were approached to give feedback to the IRD via the Rural Advisory Committee, this is a consultation process with the IRD to understand the impact it may have.
CooperAitken have a number of goat farming clients, hence we were happy to be part of the initiative to provide feedback to IRD on the impact this would have in the hope they would review the 1 year uplift. We are excited to announce that IRD have agreed to spread the tax impact on goat farming clients by signing off on a three year transition to the new NSC goat values.
Great news for goat farmers nationwide.