When you are in Primary Production, cashflow can be tough. Help average out the highs and lows of tax by using Farm management deposits.
To be considered eligible to utilise this option the following must be applicable:
Be operating the primary production business in your own name, in partnership or you are a beneficiary of a trust which operates a primary production business.
Non-primary production is less than $100,000 taxable income in the year that the farm management deposit is made.
Currently hold less than $800,000 in Farm Management Deposits.
There are restrictions on the