Special Edition Webinar: Rural Series: Webinar 3 - Advanced Topics
In 2024 Tony Marshall, New Zealand’s leading rural tax expert will be delivering a series of three Special Edition Webinars, focusing on livestock valuations, ensuring you maximise the opportunities that different methods provide.
Description
The valuation of livestock is a key component in determining the tax position for farmers. Without a detailed knowledge of the livestock valuation rules beyond simply entering livestock tallies into a workpaper it is not possible to maximise the opportunities that the different valuation methods afford us.
Drawing on over 20 years on working with farmers and valuing their livestock for Tax purposes, Tony will present the most comprehensive discussion of the rules seen in the past 16 years.
This webinar series is designed for those who do not have a detailed knowledge of the methods or options available to them, but equally will provide a refresher for those who are more experienced but may not have looked at the rules for some time.
Each webinar will build on the knowledge obtained in the previous webinar.
Please Note: This is for booking Webinar Three only - to book the series click here
Webinar 3 – Advanced topics
In this webinar we will focus on the more advanced issues that we may arise when using the livestock valuation rules. Tony will step through the following topics with multiple practical examples and rules and issues to watch out for
Associated person livestock transfers: This often happens when undertaking a succession plan. Whilst the concept of the rules “livestock valued under the herd scheme must continue to be valued using the herd scheme” is straight forward. What happens when there is only a partial sale of livestock, or where the purchaser is already valuing livestock.
Bailments: The associated person herd scheme transfer rules provide relief when used, bailments can assist when other valuation methods have been used. Whilst not commonly used in modern farming structures both short and long term bailments are still a very useful tool for tax planning purposes.
Relationship property or Death: Relief is provided when livestock is transferred in the context of relationship property or upon death. Tony will provide examples of how the relief concessions apply to the usual situations that we see, and the issues to consider when applying the rules.
The Rural Series of three is still available to purchase and you will receive webinars one and two as recordings
Presenters
Tony Marshall
Principal, CEG
Tony is well known presenter on rural tax issues for over a decade, converting technical concepts into practical presentations using real life examples and experience.
Tony is a member of the Chartered Accountants Australia New Zealand Rural Sector Committee, which advocates for the rural sector on a wide variety of issues on behalf of its members, this ensures that he is up to date and well versed on issues facing rural New Zealand.
Tony is one of the authors of the Farming, Forestry and Fishing Tax Guide published by Wolters Kluwer.