Description

This important training is a must for every accountant who advises orchardists.
The webinar will cover:

• Income Tax and GST issues on acquisition and sale of an orchard including
• Allocation of purchase price;
• GST issues, especially where dwelling and curtilage included;
• Structuring options for acquisitions considering increases in personal tax rates and ensuring an interest deduction where able;
• Standard clauses to include in the sale and purchase contract; and
• Tax issues arising from unharvested fruit at settlement.
• Special tax amortization rules, including a helpful two-page shortcut reference sheet;
• Income tax on harvested fruit at balance date.
• Tax issues with employment of staff.
• Amortization of plant variety rights and trademarks, focusing especially on G3 licenses for Kiwifruit;
• GST issues on export of fruit, especially for Avocado growers

ORIGINAL BROADCAST DATE

24 February 2021

LEARNING OUTCOMES

Understand and apply the main income tax and GST laws to orchardists.

SUITED TO

Accountants and in-house accountants of orchardists.

PRESENTERS

Sybrand van Schalkwyk, Director, Baker Tilly Staples Rodway Tauranga Limited

Michelle Sinclair, Senior Tax Manager, Baker Tilly Staples Rodway Tauranga Limited