Cattle Council Welcomes Federal Budget Measures
The Cattle Council of Australia has welcomed the announcement of positive measures for Cattle producers in this week’s Federal Budget – particularly measures that will greater tax incentives for on farm improvements, strategic investment in northern beef roads and ongoing support for producers affected by drought.
“These measures will have tangible benefits for Australian Cattle Producers and we congratulate the Abbott Government on their initiative.” said Cattle Council President Howard Smith.
“Accelerated depreciations regimes will keep cash in producers’ pockets which will greatly assist cash-flow on farm and also incentivise upkeep. Many people don’t realise that on-farm infrastructure must be maintained regardless of seasonal or market conditions and these tax measures provide a practical means of freeing up cash-flow.”
"We are also encouraged by this announcement that northern beef roads will be upgraded. The north has been crying out for investment for decades and this news is welcome. What is particularly pleasing is that investment will be targeted using the TRANSIT tool developed by CSIRO.” Said Mr Smith.
“Industry has invested levy funding towards the development of this tool and also contributed cattle movement data to its modelling. This means that not only are producers receiving a return on their levy investment, their investment as taxpayers will be more efficient as expenditure is targeted to high-use roads.”
The Cattle Council also thanked the Australian Government for their ongoing support of drought-affected producers. “We are very aware that a large number of producers continue to face challenging seasonal conditions. We appreciate the Australian Government’s continuing assistance.”
However, Cattle Council continues to anticipate the release of the Australian Agricultural Competitiveness Whitepaper. “We are aware the Minister indicated that there is more to come with the release of the whitepaper. Hopefully, the positive sentiment towards producers set by the Budget will continue in the whitepaper.”
For more information please contact Cattle Council Stakeholder Relations Officer Heidi Eldridge 0417 249 506