In a ground breaking win for property developers, a recent NSW Court of Appeal decision found that land held for future development but used for grazing, can be exempt from land tax.

For income years commencing on or after 1 July 2016, the Government will allow all primary producers to immediately deduct capital expenditure on fencing and water facilities, such as dams, tanks, bores, irrigation channels, pumps, water towers and windmills. In addition, the Government will also allow primary producers to depreciate over three years all capital expenditure on fodder storage assets, such as silos and tanks, used to store grain and