Simplifying livestock counts for tax efficiency

For every livestock farming business in New Zealand, the ability to prepare correct valuations for tax purposes is essential. This relies on an accurate calculation of livestock values that takes into account sales, purchases and other reconciliation checks.

You can benefit from an accurate and simplified approach to calculating your livestock values by using the Livestock Valuation Model – a spreadsheet-based model made available nationwide by the specialist Agribusiness team at BDO Gisborne. The model has been widely used by accountants around the country for the past 20 years and is regularly updated and enhanced based on market insights.

To purchase or enquire about the Livestock Valuation Model, please enter your contact details in the form below and the team at BDO Gisborne will be in touch with further help.

Benefits

Enter livestock tallies and immediately get the correct tax valuation and tax effect of the various options available, the easy way – helping avoid mistakes and ensure you pay the lowest tax.
Options to use various livestock valuation options contained within legislation to ensure tax efficiency.
Ability to complete livestock valuation scenarios - invaluable for succession planning.
Reconciliation module checks the integrity of stock numbers on a class-by-class basis with sales, purchases, deficiencies and surpluses.
Tallies flow through automatically to all modules.
Model calculates high-priced livestock values.
Model allows valuation on a first-in first-out (FIFO) basis for National Standard Cost (NSC) where no stock are in the Herd Scheme.
Simple one page data entry sheet for modelling the costs of moving additional stock to the Herd Scheme.
The Model includes valuations of livestock compatible with NZ IAS 41 – Agriculture for those applying differential reporting. Valuations include National Average Market Value (NAMV’s) as a proxy for market value and a pure NSC calculation as a proxy for cost. No additional data entry is required for these valuations to be produced, a simple check box is used to selection between cost and market value.
A Livestock Valuation ‘add-on’ feature in Farm Focus allows accountants to download a farm’s livestock data directly from Farm Focus for seamless upload into the Livestock Valuation Model. This feature is available in your Farm Focus workspace. Visit the Farm Focus website for pricing, to purchase the add-on and learn more.

Pricing

The Livestock Valuation Model is available for $1,390 (excluding GST). Updates of the model will be available each year – the current update price is $580 (excluding GST).