Income Averaging for Primary Producers

Primary producers will be allowed to return to income averaging after 10 years of choosing to opt out. Previously if they opted out of income averaging it was permanent. This will give primary producers more flexibility and increase tax savings.

For more info see: https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-individuals/Automatic-reinstatement-of-PP-averaging/

 

2016-09-27T10:21:17+00:00