Most Read Contributor in Australia, September 2016
The 2015 Federal Budget offered incentives for Australia's
agribusiness industry and the primary producers who are its
lifeblood. Amongst the budget measures announced last night are the
following packages that will impact the industry:
a small business package that includes tax deductions for items
costing less than $20,000. Small farming businesses will benefit
from this accelerated depreciation. These arrangements start from
the Budget night and continue until the end of June 2017;
the ability to claim full tax deductions for spending on
fencing and water infrastructure. This measure will not come into
place until July 2016;
the ability to claim depreciation on fodder storage investment
over three years;
the extension of the Drought Concessional Loans and Drought
Recovery Concessional Loans scheme for another year until June
the Northern Australia Infrastructure facility which will see
loans become available for the enhancement of roads, dams,
pipelines and power plants in Northern Australia. This is in
addition to the $100million Beef Road Fund which was announced by
Tony Abbott during Beef Week in Rockhampton last week and aims to
enhance livestock transport across Northern Australia;
the re-introduction of incentive payments to encourage doctors
to practise in rural and regional Australia.
As the Government has flagged agribusiness as one of the five
national investment priority areas (along with resources and
energy, major infrastructure, tourism infrastructure and advanced
services and manufacturing and technology) these announcements go
some way to bolstering the needs of the sector.
This publication does not deal with every important topic or
change in law and is not intended to be relied upon as a substitute
for legal or other advice that may be relevant to the reader's
specific circumstances. If you have found this publication of
interest and would like to know more or wish to obtain legal advice
relevant to your circumstances please contact one of the named
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Many retail leases include a covenant to trade, requiring the tenant to open the premises for trade during certain hours.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).