PROFESSIONAL DEVELOPMENT COURSE

Applying Australian primary production taxation rules and concessions for 2026–27.

Professional reference and assessment | 2026–27

Scope and reliance

This material summarises the principal income tax, goods and services tax, employment, disaster, trading stock and indirect tax rules that apply specifically to Australian primary production businesses for the 2026–27 income year. General assessable income, deduction, capital allowance and tax offset rules are included only where a primary-production-specific concession or compliance requirement modifies their operation. Application depends on the taxpayer’s legal form, whether a business is carried on, the taxable purpose of the activity and contemporaneous evidence. This material does not constitute taxation, legal, superannuation or financial advice.

Course overview

The material provides a structured professional approach to primary production taxation for 2026–27. It covers business status, record keeping, goods and services tax administration, income timing, disaster-related receipts, government support, farm management deposits, trading stock, tax averaging, non-commercial losses, specialised capital allowances, luxury car tax relief, the instant asset write-off, the wine equalisation tax producer rebate and fuel tax credits.

The content is organised into five knowledge blocks supported by native Word tables, independent examples, practical activities, two compact flowcharts, a professional review toolkit and a final LearnDash-compatible assessment. It is suitable for tax agents, Business Activity Statement agents, public practitioners, accountants and other advisers who work with farming, fishing, forestry, horticultural, viticultural and related rural businesses.

Course objectives

Identify activities that fall within the primary production definition and assess whether a business is being carried on.
Apply the principal 2026–27 administration, record-keeping, income-timing and disaster provisions affecting primary producers.
Evaluate farm management deposits, trading stock, tax averaging and non-commercial loss outcomes.
Classify primary-production-specific capital expenditure and apply vehicle and small business asset rules.
Review wine equalisation tax and fuel tax credit entitlements using reliable records and current legislative status.

Learning Outcomes

You should be able to classify rural activities and document whether they constitute a primary production business.
You should be able to identify the records, registrations, elections and evidence required for common primary production transactions.
You should be able to apply farm management deposit, trading stock, averaging and non-commercial loss rules to professional scenarios.
You should be able to distinguish primary-production-specific capital allowances from general depreciation treatment.
You should be able to complete a year-end primary production review covering luxury car tax, the instant asset write-off, wine equalisation tax and fuel tax credits.

CPD/CPE compliance mapping

The following mapping identifies how the professional outcomes align with common continuing professional development and continuing professional education competency areas. It does not determine the requirements of any membership body or regulator and should be considered with the professional’s own annual learning plan. Professional development compliance mapping

Body or framework	Relevant competency area	Mapped outcomes	Evidence of completion	Suggested classification
CPA Australia	Taxation, financial accounting, risk and professional skills.	Primary production classification, tax concessions, evidence, calculations and compliance review.	Completion record, quiz result and retained course notes.	Technical and professional development.
Chartered Accountants Australia and New Zealand	Tax, accounting, assurance, risk and practice capability.	Application of primary production income tax, GST, asset and reporting rules.	Completion record, quiz result and reflective application to client work.	Technical competence.
Institute of Public Accountants	Taxation, accounting, compliance and public practice.	Entity, stock, concession, withholding and indirect tax analysis.	Completion record, quiz result and practice workpaper.	Structured CPE.
Tax Practitioners Board	Australian taxation law and tax agent services.	Income tax, GST, Pay As You Go, evidence and lodgement decisions for primary producers.	Course completion certificate and assessment result.	Relevant tax practitioner CPE.