The business of primary production in Australia : the need for a consolidated taxing regime

This paper examines a threshold question relating to the nature and form of the business of primary production. It is critical to determine the boundaries of what is classified as a business activity as it applies to primary producer type activity. The paper will then explore the type of concessional tax concessions that are available to taxpayers carrying on that type of business activity. The paper will attempt to identify difficulties that may exist in the legislature framework of the Income Tax Assessment Act 1936 (ITAA 36) and Income Tax Assessment Act 1997 (ITAA 97). The paper will also assess whether environmental tax concessions for primary producers actually assist in confronting environmental matters.