“As a practising tax lawyer, I find myself thoroughly shocked by the lifelong incorrect assumptions I held regarding the taxation of livestock. I can take solace in the fact that both the ATO and my fellow practitioners have also been living under the same misinterpretation of the law. Thanks to the authors, whose strong academic rigour and extensive research have elucidated the correct position on the taxation consequences of livestock, we now have a clearer understanding. We are indeed fortunate to benefit from the expertise of such heavyweights from the esteemed Curtin University Business School, generously providing this invaluable research to the community.”


—Dr Brett Davies, Adjunct Professor University of Western Australia, National Tax Partner, Legal Consolidated Barristers and Solicitors

“The interpretation by tax administrators and tax professionals of the provisions of the Income Tax Assessment Act 1997 (ITAA 1997) and the Wade Case and similar cases relating to the sale of livestock are critically explored to provide meaningful insight into the problem faced by primary producers in Australia. This book is a must read for Australian primary producers, tax professionals, academics, and students.”
—Associate Professor Prafula Pearce, Associate Professor (Law), Edith Cowan University, School of Business and Law, Edith Cowan University

"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