NATIONAL STANDARD COSTS FOR SPECIFIED LIVESTOCK DETERMINATION 2004
Inland Revenue Department have released the following determination for National Standard Costs for Specified Livestock Determination 2004.
This determination is cited as "The National Standard Costs for Specified Livestock Determination, 2004".
This determination is made in terms of section EL 3A of the Income Tax Act 1994. It shall apply to any specified livestock on hand at the end of the 2003/2004 income year, where the taxpayer has elected to value that livestock under the national standard cost scheme for that income year.
For the purposes of section EL 3A of the Income Tax Act 1994 the national standard costs for specified livestock, for the 2003/2004 income year, are as set out in the following table.
Table
| Kind of Livestock | Category of Livestock | National Standard
Cost $ |
| Sheep | Rising 1 year | 23.00 |
| Rising 2 year | 14.90 | |
| Dairy cattle | Purchased bobby calves | 128.00 |
| Rising 1 year | 694.00 | |
| Rising 2 year | 86.00 | |
| Beef cattle | Rising 1 year | 216.00 |
| Rising 2 year | 125.00 | |
| Rising 3 year male non-breeding cattle (all breeds) | 125.00 | |
| Deer | Rising 1 year | 75.40 |
| Rising 2 year | 38.00 | |
| Goats (meat and fibre) | Rising 1 year | 17.40 |
| Rising 2 year | 11.90 | |
| Goats (dairy) | Rising 1 year | 100.00 |
| Rising 2 year | 16.40 | |
| Pigs | Weaners to 10 weeks of age | 81.40 |
| Growing pigs 10 to 17 weeks of age | 63.80 |
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