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Taxation on farmers producing
Aim: Reduction & simplification of the tax
system for farms producing fruit and vegetables.
Up to 40% of the sale value of the product is
deductible as expenses without need of documentary evidence: wages, seeds,
pesticides, fuel, depreciation on machinery & ancillary costs.
Farmers whose expenses are below this amount do not
have to produce documents & papers to the Department except those related to
Farmers with costs exceeding the above, can
calculate their profits on their actual costs as long as they can support them
with receipts and other documents.
Budget 2003 Index