This determination may be cited as The National Standard Costs for Specified Livestock Determination, 2007.
This determination is made in terms of section EC 23 of the Income Tax Act 2004.
It shall apply to any specified livestock on hand at the end of the 2006–2007 income year where the taxpayer has elected to value that livestock under the national standard cost scheme for that income year.
For the purposes of section EC 23 of the Income Tax Act 2004, the national standard costs for specified livestock, for the 2006–2007 income year, are as set out in the following table.
Table
Kind ofLivestock Category of Livestock National Standard Cost$
Sheep Rising 1 year 24.70
Rising 2 year 17.00
Dairy Cattle Purchased bobby calves 138.00
Rising 1 year 652.00
Rising 2 year 93.30
Beef Cattle Rising 1 year 243.80
Rising 2 year 143.30
Rising 3 year male non-breeding cattle (all breeds) 143.30
Deer Rising 1 year 79.80
Rising 2 year 39.20
Goats (meatand fibre) Rising 1 year 19.50
Rising 2 year 13.60
Goats (dairy) Rising 1 year 122.60
Rising 2 year 19.90
Pigs Weaners to 10 weeks of age 82.50
Growing pigs 10 to 17 weeksof age 63.90
This determination is signed by me on the 31st day of January 2007.
SUSAN PRICE, Senior Tax Counsel.