Lex Fullarton, Dale Pinto

The authors take an in-depth look at an accepted practice of classifying ALL animals held in a business of primary product in Australia as revenue assets regardless of the function they perform in that business. This practice denies retiring farmers tax concessions granted to other businesses. They describe the practice as unfair, and after a deep examination of the circumstances that gave rise to the generally accepted accounting and tax interpretation, they find that it is not true. They report their story and point their fingers at a glaring tax injustice.

Dr Lex Fullarton is Adjunct Professor at Curtin Law School, Curtin University. He is a solar farmer in Carnarvon, Western Australia and former public practitioner. He has previously published Heat, Dust and Taxes (2015); Watts in the Desert (2016); The Artful Aussie Tax Dodger (2017); and [T]Axing Greenhouse Gases (2019).

Prof Dale Pinto is John Curtin Distinguished Professor of Taxation Law, Curtin Law School, Curtin University. He has previously published E-Commerce and Source-Based Income Taxation (2003). He contributed to Australian Taxation Law (2016–2021) and is contributor to the Australian Master Tax Guide 2022–current.

"The definition of primary production business ensures that an entity with a single bull to produce semen straws for sale is a primary production business. Fantasies are irrelevant—the bull is a working beast and not trading stock. Legislation that makes semen production a primary production business is foolish.”

—Chris G Wallis Barrister & Chartered Tax Adviser, Greens List, Victorian Bar