Concessional registrations continue to be an important tool used by farm businesses.
NSW Farmers has welcomed improved eligibility requirements, which will come into effect as of 1 July, for primary producer concessional registrations. These updates were necessary after changes in 2021 introduced a 50% primary production income requirement which created barriers for some genuine farm businesses.
NSW Farmers President Xavier Martin applauded the commonsense outcome after several years of work behind the scenes.
“We’re really pleased that the NSW Government and Transport NSW have aligned with the ATO definition rather than using other income rules to determine eligibility.
Income diversification has such as important role in modern businesses to manage ups and downs, and the previous requirement created unnecessary barriers to this common risk management strategy.” “Concessional registrations continue to be an important tool used by farm businesses including for vehicles that may only be used on a seasonal basis for the purpose of transporting their produced commodities and farm inputs.”“That’s why NSW Farmers has been advocating for simplicity and consistency with other government primary producer definitions to seek a practical solution for the definition used for transport purposes,” Mr Martin said.
“The 50% income rule was not fit-for-purpose and its positive that the governmenthas listened to our feedback and focused on reducing eligibility complexity for farmers which is welcome especially as weface significant cost of business pressures.
It’s a practical change that we’re pleased to have secured for farmers around the State.” More information on the details on the scheme can be accessed at: https://www.nsw.gov.au/driving-boating-and-transport/vehicle-registration/fees-concessions-and-forms/primary-producer-registration-concessions