Tax Relief

Extra farmers will contemplate carbon gross sales as a result of tax relief in finances | Manning River Occasions

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An agroecologist says the federal government’s tax break for farmers selling carbon credits would be an incentive for more people to learn how to do it. The tax cuts on income from Australian Carbon Credit Units, as announced in the 2022 budget, is expected to save primary producers $100 million over the next four years. Agroecologist David Hardwick welcomed the announcement as a chance for producers to consider carbon credit sales as enterprises in farm businesses. READ MORE: “It definitely is a bit of an incentive to start using environmental products like carbon and biodiversity and start to have them as part of your farm business mix,” he said. “Anything that helps guys build in carbon and biodiversity into their farm business is good for all of us in the long term and good for all of their business planning.” North Albury NSW’s Kiewa Catchment Landcare Group project officer Charles Daaboul said farmers had already been using soil carbon increasing methods, but the announcement would increase interest in the practices. “There’s people trying all of this stuff already, they’ve been doing it for years, but now they know they can store carbon, so they’re definitely more interested in it all,” he said. “It’s getting people a lot more interested in that aspect of it; being able to make extra money for your property.”

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An agroecologist says the federal government’s tax break for farmers selling carbon credits would be an incentive for more people to learn how to do it.

The tax cuts on income from Australian Carbon Credit Units, as announced in the 2022 budget, is expected to save primary producers $100 million over the next four years.

Agroecologist David Hardwick welcomed the announcement as a chance for producers to consider carbon credit sales as enterprises in farm businesses.

“It definitely is a bit of an incentive to start using environmental products like carbon and biodiversity and start to have them as part of your farm business mix,” he said.

“Anything that helps guys build in carbon and biodiversity into their farm business is good for all of us in the long term and good for all of their business planning.”

North Albury NSW’s Kiewa Catchment Landcare Group project officer Charles Daaboul said farmers had already been using soil carbon increasing methods, but the announcement would increase interest in the practices.

“There’s people trying all of this stuff already, they’ve been doing it for years, but now they know they can store carbon, so they’re definitely more interested in it all,” he said.

“It’s getting people a lot more interested in that aspect of it; being able to make extra money for your property.”

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