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Farm Management Deposits - Primary Producers

01-Aug-2012

There are changes to farm management deposits (FMD) and primary production (PP) averaging for the 2017 tax year.

The maximum amount that can be held in a FMD by an individual has increased from $400,000 to 800,000.

Also, FMD can now be used as a loan offset against primary production loans.

Primary Producers who have opted out of the averaging of their PP income will now be able to re-instate the averaging of their PP income

provided that they have been out of the averaging system for at least 10 years.

 

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