Tauhei Notts 1,413 Report post Posted September 30, 2021 Breeders may wish to advise their accountant of the Inland Revenue Department's Tax Information Bulletin, volume 33 Number 9 dated October 2021. I note that nowadays foaling and weaning fees are not immediately tax deductible. They are added to (capitalised) the cost price of the foal. It would appear that veterinary fees related to that foal are also to be added to the cost price of that foal, that is, not written off as an expense when those fees are incurred. For bloodstock bought the transport costs to the owner's farm are not immediately deductible. They are added to (capitalised) the cost price of the purchased stock. The cost price of purchased stock must also include valuer's fees, vet inspection fees and other expenses directly related to the purchase of that horse. Breeder 1 Quote Share this post Link to post Share on other sites More sharing options...
John Clydesdale 229 Report post Posted October 10, 2021 This is a rather strange turnaround. Simple question, are vet costs on a mare aborting a foal, an expense or capital cost loss of a dead horse? Dumb stuff. Cheers John Baz (NZ) and Dopey 2 Quote Share this post Link to post Share on other sites More sharing options...
