Handling the GST on Cattle and Beef Sales


Type: Webpage
Knowledge level: Introductory

Farm Table says:

Helpful article for beef producers wanting to know the ins and outs of GST on cattle and beef sales.

This article covers handling the GST on cattle and beef sales and some important things producers should know about GST in terms of beef production.

Items covered in this article were:

• GST and beef production

Key points were as follows:

• ABN’s are important for commercial beef producers.

• Businesses with ABN’s are required to report Business Activity Statements (BAS) monthly, quarterly or annually through the Australian Tax Office.

• If you buy stock, you can claim the GST.

• Easy to use accounting programs are available to make the reporting process easier for producers.

• If you sell stock, GST is required to be added to any sales.

• For more detailed tips on GST and beef production, click here.

For further information on GST and beef production, click on the relevant links below:

1) Australian Taxation Office

2) National Farmers’ Federation

Australia - NSW DPI
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