Cow picThe Inland Revenue has released the ‘National Standard Costs for Specified Livestock Determination 2015’.  The determination applies to any specified livestock on hand at the end of the 2014/2015 income year where the taxpayer has elected to value that livestock under the national standard cost scheme for that income year.  The national standard costs are detailed at http://www.ird.govt.nz/technical-tax/determinations/livestock/national-standard/livestock-nationalstandardvalues-2015.html.

For more information or assistance please contact UHY Haines Norton Director Mark Foster at markf@uhyhn.co.nz.