Farmers encouraged to maximise tax incentives

Tax incentives for farmers extended by federal government

Machinery
New Holland Australia and New Zealand general manager Bruce Healy said the Australian government's federal budget commitments would offer farmers a reprieve from recent hardships.

New Holland Australia and New Zealand general manager Bruce Healy said the Australian government's federal budget commitments would offer farmers a reprieve from recent hardships.

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Machinery dealers are urging farmers to take advantage of the federal government's extended tax incentives.

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Machinery dealers are urging farmers to take advantage of the federal government's extended tax incentives.

The scheme was originally set to expire on June 30, 2022, but was extended to June 30, 2023, in this year's federal budget.

New Holland national sales manager David Gibson said dealers had seen a huge response from farmers who are purchasing new machinery and are planning 12 months in advance.

"Excellent seasonal conditions, strong global trade, and confirmation of federal government tax incentives enabled a strong finish to 2021," Mr Gibson said.

"Farmers can decide which financial year, FY22 or FY23, they will take advantage of the tax benefits, depending on their financial circumstances.

"New Holland has also extended the settlement period of delivery to March 31, 2022, which works in favour of the customer.

"Our dealers currently have stock both on the dealer floor and on the way, and are writing retail orders faster than ever before."

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New Holland Australia and New Zealand general manager Bruce Healy said the Australian government's federal budget commitments would offer farmers a reprieve from recent hardships.

He said it was an opportune time to invest and urged all customers to seek advice from their accountants or financial advisers to ensure they were aware of all options.

"With the incentivised programs outlined in this year's budget, there are now multiple avenues for farmers to thrive," he said.

"This will ease the pressure which has been felt by many of our farmers for some time now and provide them with the confidence and financial freedom to invest in new technology and machinery, a necessity for long-term cost and productivity savings.

"We understand the hardships Australia's agriculture industry has endured, and pride ourselves on delivering products which make life easier for our hard-working farmers."

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