Horse agistment Tax deductions
Hi fellow farmers, at this stage im an a very amateur farmer, my partner and i have just bought 50 acres in the Adelaide hills.
We have two horses at the moment, and about 5 big paddocks, but we were hoping to replace alot of the existing fencing and fence up some new paddocks. Once we are in the right position we are planning on turning it into a horse agistment center.
I have had a read on the ATO about primary production, and from what i can see, Horse agistment doses not really apply as primary and production.
I am hoping i have read this incorrectly, please can someone correct me if im wrong. If this is case does anyone know of another way around this to still claim deductions from the farm.
Any Advise will be greatly appreciated
Cheers