Just released are the Herd Values at 30 April. A snapshot is taken throughout New Zealand and across various markets to determine the values to be used for tax purposes each year.
When you are in the herd schemes, increases in values are not taxable and decreases are not deductible.
Sheep : After a large increase from 2021 to 2022, and the reduced returns in all classes this year, the values have decreased across the board. Movements as follows -
Beef Cattle : With the continued good returns, cattle values have increased across the board, with the biggest % lift being R1 Steers/Bulls, as supported by the strong weaner sales this autumn. A couple of the movements are -
Dairy : Downward movement across the female classes, in particular for R1 heifers with reduction of over 14% from last year.
Red Deer : An increase across all classes, ranging between 12% to 25% lift in values.
This is an overview of the changes. As always we are available to talk in more detail about how this impacts your farming figures. Full information is available from IRD here.