Despite considerable diversification of our economy in recent decades, New Zealand remains highly dependent on the primary sector with commodities contributing to over 50% of New Zealand’s total export earnings. This sector can also lay claim to a specialized and diverse set of tax regimes, which are brought together in this title.

This second edition has been fully updated to include all legislative and Inland Revenue policy changes up to October 2014, including the 2011 overhaul of the herd scheme rules and changes to employee allowances. It also includes completely new commentary on the Emissions Trading Scheme and the PSA Virus.

The book is a valuable resource for accountants and their clients working in the farming, forestry and fishing sectors.

Topics covered include:

• income aspects of farming
• farming expenditure and deductions
• income equalisation schemes
• bloodstock
• livestock
• the farmer as employer
• subdivision of farm land
• horticulture, viticulture and beekeeping
• forestry
• fishing and aquaculture.