Consultation commenced - Concessional treatment of ACCUs for Farmers – Farm Management Deposits
For those who work with farmers and ACCUs, in the March 2022-23 Budget, the former government announced tax changes to provide concessional tax treatment to certain primary producers that generate revenue from the sale of Australian Carbon Credit Units (ACCUs).
The government is now consulting on proposed legislation to deliver this measure.
Eligible primary producers will be able to treat the net proceeds from the sale of Australian Carbon Credit Units (ACCUs) they first held on or after 1 July 2022 as primary production income for the purposes of the Farm Management Deposit (FMD) scheme and accessing income tax averaging.
See here for further information https://treasury.gov.au/consultation/c2023-368460
Warm regards
Sara
Sara Bray
Senior Policy Manager, Australian Forest Products Association
M: 0402 465 349 | E: sara.bray@ausfpa.com.au
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