Small farm ATO - Farm stay

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1 year 8 months
Last seen: 12/02/2019 - 10:46
Joined: 08/01/2019 - 15:00

Small farm ATO - Farm stay

Hi all sorry my first post so please forgive the newness of it all!

We've bought 5ha up on the central coast and the council planner has said to be allowed to have a farm stay accommodation on the lot we need to be classed as a farm proven by the ATO.

Is that correct and if so on that kind of land could people suggest a good way to go about it? I was thinking of having a small number of breeding Highland miniature cattle. Would that be sufficient or does it need to be on a larger scale?

I would love to hear other people's experiences.
Thanks
Tom

Forums
Last seen: 04/17/2021 - 21:57
Joined: 02/28/2011 - 14:19

Hi Thomen,

Welcome to the small farms forum and congratulations on the purchase.

To give a general answer to your question. A primary producer is a small business as well, no different in a business sense to any other small business that operates in Australia. The planner may be referring to the farm being run as a business rather then a hobby.

The main considerations for being in business are the following, 

1) is the main intention or purpose to make a profit?

2) do you regularly and repeatedly undertake your activity?

3) is the activity planned, organised and carried out in a businesslike manner?

4) is the activity being undertaken for commercial reasons?

You can view the ATO ruling here, Income tax: am I carrying on a business of primary production?

https://www.ato.gov.au/law/view/document?docid=TXR/TR9711/NAT/ATO/00001#P12

Look forward to your reply.

Regards,

Charlie

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