Income equalisation scheme: Eligibility
Who can use the income equalisation scheme?
- Taxpayers engaged in any farming or agricultural business on land in New Zealand
- Taxpayers engaged in any business of fishing
- Taxpayers (not a company, public authority or Maori Authority or unincorporated body) who derive gross income from forestry in New Zealand
- Any company carrying on a forestry business on any land in New Zealand, which in any income year derives gross income from thinning operations on the land.
Examples of activities that would qualify include:
- beekeeping,
- animal husbandry,
- dairy farming,
- grain and seed growing,
- market gardening,
- fruit growing,
- poultry farming,
- share-milking,
- tobacco growing,
- vegetable growing,
- vineyard.
Examples of activities that would not qualify include:
- dealing in livestock,
- leasing or bailing livestock by the bailer,
- aerial topdressing,
- hobby farming,
- growing trees for production of timber,
- services provided to persons carrying on a farming or agricultural business, for example:
- agricultural contractors
- seed cleaners
Date published: 06 Jul 2005
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