Federated Farmers Submission to the IRD for the questions we've been asked around income tax - Sharemilkers and farmhouse expenditure, and allowances to farm workers
Federated Farmers of New Zealand welcomes the opportunity to submit to Inland Revenue on two ‘question we’ve been asked’ (QWBA) exposure drafts:
• Income tax – can sharemilkers and contract milkers deduct farmhouse expenditure using the approach in IS 17/02?; and
• Income tax – what is the tax treatment of allowances paid and benefits provided to farm workers?
Federated Farmers is comfortable with these exposure drafts, which are helpful and pragmatic.
See the full submission for more information