Primary Producer Income Tax Averaging — election (ATO)
Form number: Primary producer averaging election (lodged via individual income tax return)
Primary producer averaging spreads tax across high-income and low-income years for primary producers (farmers, foresters, fishers). It is a default election that runs automatically once you have been in primary production for 5 years — but you can also elect to opt out for 10 years if you no longer benefit. Used well, it can save tens of thousands of dollars over a farming career.
Official source
ato.gov.auRelated topics
primary producer averagingfarm tax averagingato averagingfarmer taxincome averaging primary productionfarm income averagingagricultural tax relieffarmer tax deductionprimary production taxforestry tax averagingfishing income taxrural tax averagingagribusiness taxfarm tax offsetseasonal income taxbusiness grantincome tax
Related forms
- Farm Household Allowance (FHA) — Services AustraliaSA452 (Farm Household Allowance claim)
- Regional Investment Corporation (RIC) Drought LoanRIC Drought Loan application
- RIC Farm Investment LoanRIC Farm Investment Loan application
- RIC AgriStarter Loan (next-generation farmers)RIC AgriStarter Loan application
- RIC Drought Loan — Refinance / Concessional Refinance pathwayRIC Drought Loan (refinance use case)
FormFinder is not affiliated with any Australian government body. Always verify details on official websites. Not legal advice.
Get this form in FormFinder
Download the app to search, save, and get reminders for this form.
Get early access