This determination may be cited as The National Standard Costs for Specified Livestock Determination 2009.
This determination is made in terms of section EC23 of the Income Tax Act 2007.
It shall apply to any specified livestock on hand at the end of the 2008–2009 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 EC23 of the Income Tax Act 2007, the national standard costs for specified livestock for the 2008–2009 income year are as set out in the following table.
Table
Kind of
Livestock Category of Livestock National Standard Cost
$
Sheep Rising 1 year 26.00
Rising 2 year 17.80
Dairy Cattle Purchased bobby calves 176.90
Rising 1 year 787.60
Rising 2 year 142.60
Beef Cattle Rising 1 year 261.60
Rising 2 year 150.00
Rising 3 year male non-breeding cattle (all breeds) 150.00
Deer Rising 1 year 91.80
Rising 2 year 44.50
Goats (meat
and fibre) Rising 1 year 20.90
Rising 2 year 14.30
Goats (dairy) Rising 1 year 155.50
Rising 2 year 25.20
Pigs Weaners to 10 weeks of age 93.10
Growing pigs 10 to 17 weeks
of age 75.20
This determination is signed by me on the 29th day of January 2009.
SUSAN PRICE, Director, Public Rulings.