Farm Table says:
This webpage is produced by the Australian Taxation Office with the aim to assist you with valuing your livestock for taxation purposes.
You are required to value your livestock at the end of each year as part of determining your net income from primary production.
You can choose to value livestock at cost, market selling value or replacement value.
The key sections include:
- small businesses – simplified trading stock rules
- goods taken from stock for private use
- natural increase
- information for oyster farmers and beekeepers