Monday, 22 July 2013 09:45

New riparian tax breaks

Written by 

New tax breaks that will contribute to protecting water quality have been welcomed by a regional council.


From this month, riparian plantings by farmers are tax deductible as an operational expense instead of being classified as capital expenditure.


A change to the Income Tax Act explicitly allows deductions for plantings to "prevent or mitigate discharges into water courses or water bodies". The provision is available to trees, shrubs and other plantings.


The Government says the new measure will encourage farmers to plant trees and shrubs in riparian strips along creeks and rivers, thereby increasing natural habitat and reducing the amount of sediment and nutrients entering waterways.


Waikato Regional Council catchment services group manager Scott Fowlds says the council, its partner iwi and stakeholders have a strong focus on protecting water quality in the region.
So the Government's new tax rules are a welcome addition to measures supporting this, he says.


"The council itself already offers grants of up to 35%t of the cost of fencing off waterways and riparian plantings on farms in priority catchments."


For more advice on planting and fencing issues, contact a council land management officer on 0800 800 401 or visit www.waikatoregion.govt.nz/forfarmers

More like this

World’s worst weed on the prowl

With warmer weather bringing on forage maize crops in leaps and bounds, Waikato Regional Council is reminding farmers and growers to keep watch for velvetleaf.

Featured

 

Judge named for on-farm comp

Waikato contract milker Corey Ferguson has been named as the judge for the New Zealand Agricultural Show’s on-farm competition in November.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Spell check

Your old mutt was not surprised to see the NZ Dairy Industry Awards hastily remove the title of this year’s…

About time!

Your canine crusader has been a long-time critic of NZ governments – of all stripes – who, for the past…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter