NEWS & EVENTS

At NZKGI, we aim to keep our grower community up-to-date with relevant industry news and key event information. See below for all of our latest industry news announcements and the details you need to know for our upcoming events.

Grower Guidance / January 29, 2018

Tax advice relating to Psa

Over the last few years many growers have purchased licences to grow varieties of kiwifruit. These are able to be amortised over a period of time – depending on the licence PVR (Plant Variety Right) date. Given the Psa-V issues, these licences may now be worth a lot less or may even be worthless.If the licence was acquired from Zespri or a third party then on the face of it a deduction is available for any loss on sale provided the licence was not used or available for use before 1 April 1993.

Alternatively, if the taxpayer reasonably decides the licence is worthless, a deduction for its tax book value as at the start of the income year that such a licence becomes worthless may be allowed.If the license was acquired from an associated person, we recommend that you seek specific professional advice.

Click here for more information from the IRD