Government Taking Another Bite Out of Agriculture

How will the proposed Biosecurity Tax work?
Here’s what you need to know:
The proposed BUSINESS TAX (being called a Levy) will impact nearly all of Australia’s 85,000 farmers and thousands of supply chain participants.
•The BUSINESS TAX is set to commence in just a matter of weeks on 1 July2024.
•Australian farmers, through the BUSINESS TAX, will contribute $51.8 million to the total biosecurity funding package.
•Farmers and agricultural businesses haven’t been told how the BUSINESS TAX will be collected and managed.
•Levy rates will be set on the basis of each ag industry sector’s proportional share of total gross value of production (GVP).
•Collected funds will not go directly to DAFF, instead they will be placed into government coffers