Dairy unity
OPINION: A last-minute compromise ensured that the election of the new Federated Farmers national dairy chair wasn't a repeat of the Super 15 rugby final - Canterbury versus Waikato.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Inland Revenue’s proposal was to make major changes to the way FBT applies to utes, which are common and essential work tools for most farmers across New Zealand.
As Federated Farmers rightly points out this could very quickly become a ‘Ute Tax 2.0’ and it seems to be being pushed through by stealth.
Farmers made it clear that they were in no mood to pay thousands of dollars of additional tax payments each year. This would have come as a huge cost for farmers, tradies and other productive New Zealanders and unfairly punish the legitimate use of these work vehicles.
The Coalition Government heard the message, confirming the proposal to amend FBT charged against farm utes has been canned.
While the previous Government’s so called “ute tax” was a one-off cost, the latest proposal could have seen utes costing more than $80,000 purchased by a farm business for farmers or shareholders taxed at 100% of their value (capped at $80,000) even if they were used almost exclusively for farm use.
The result would potentially result in an estimated tax burden of between $5,500 and $8,200 per annum. Meanwhile, employees and sharemilkers supplied vehicles, under the proposals, would be liable for a tax liability of $1,800 to $2,700 annually on a $50,000 value vehicle.
Common sense has prevailed and the Government deciding that it would not be hitting any Kiwis with new tax burdens on utes-full stop-and that included changes to FBT changes.
The Government must be commended for listening to the rural sector. Farmers, already facing an avalanche of regulations and taxes, can breathe a sigh of relief.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
Holstein Friesian excellence was front and centre at the 2025 Holstein Friesian NZ (HFNZ) Awards, held recently in Invercargill.
The work Fonterra has done with Ballance Agri-Nutrients Ltd, LIC and Ravensdown to save farmers time through better data connections has been recognised with a national award.