Budget Addresses Key Changes to Agricultural Property Relief
Menzies
JANUARY 15, 2025
New Tax Rules for Larger Farms The changes introduced mean that agricultural relief allowing land or pasture to be used to grow crops, or to rear animals, will be scrapped for farms worth more than 1m. For businesses or agricultural property, a 50% relief will now apply to those that exceed the 1m threshold. Have more questions?
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