Tag: cattle donation


  • Tax Updates: Donating Cattle and Tax Implications for Farmers

    Tax Updates: Donating Cattle and Tax Implications for Farmers

    Introduction: The core question In the latest tax update, authorities clarified how donations of cattle by farmers should be treated for tax purposes. The central question remains: if a farmer donates or gives away cattle, should it be taxed as income or a capital-related transaction? The answer hinges on the tax rules surrounding gifts, business…