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Information for primary producers 2023

Work out if you can claim deductions as a primary producer when completing your tax return 2023.

Last updated 2 July 2023

Who is a primary producer?
Check if you are considered a primary producer.

Primary production losses
Check if non-commercial business losses apply.

Small business entity concessions for primary producers
Workout if you can access small business entity concessions that suit your business.

Depreciating assets and capital expenditure
Information to help you work out deductions for the decline in value of depreciating assets.

Valuing livestock
Check how to value livestock at the end of each year as part of determining your net income from primary production.

Abnormal receipts
Check what type of abnormal receipts apply to you as a primary producer.

Tax averaging
Check if tax averaging applies to you as a primary producer.

Farm management deposits (FMD) scheme
Work out how to deal with uneven income flows during prosperous years and less prosperous years.

Australian carbon credit units
Work out if you are entitled to concessional tax treatment for Australian carbon credit units.

Use this worksheet to help you work out your income from primary production.