Lex Fullarton & Dale Pinto 
Tax Accounting and Livestock in Australia 
Insights from the Wade Case

The authors take an in-depth look at an accepted practice of classifying ALL animals held in a business of primary product in Australia as revenue assets regardless of the function they perform in that business. This practice denies retiring farmers tax concessions granted to other businesses. They describe the practice as unfair, and after a deep examination of the circumstances that gave rise to the generally accepted accounting and tax interpretation, they find that it is not true.

They report their story and point their fingers at a glaring tax injustice.

About the author

Prof Dale Pinto is John Curtin Distinguished Professor of Taxation Law, Curtin Law School, Curtin University. He has previously published E-Commerce and Source-Based Income Taxation (2003). He contributed to Australian Taxation Law (2016–2021) and is contributor to the Australian Master Tax Guide 2022–current.