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Tax Happy Hour: Taxation for Agriculture and Biological Assets – 19 November 2025

Farming finances don’t fit neatly into standard tax boxes. This session unpacks the tricky world of agriculture and biological asset taxation — from livestock valuation to produce income — helping you get it right, stay compliant, and save your clients from painful SARS surprises.

Date:

19 November, 2025

Time:

16:00

Hours:

1 hour

CPD Units:

1

Category:

Taxation

Group:

Channel 1: Compliance

Format:

Webinar
Tax Happy Hour: Taxation for Agriculture and Biological Assets - 19 November 2025

R230,00 VAT incl.

Product Information

Agriculture is one of South Africa’s most complex tax environments — with fluctuating income, seasonal expenses, and constantly changing asset values. This session helps accountants and tax practitioners navigate the unique tax treatment of biological assets and farming operations under the Income Tax Act and IFRS for SMEs. You’ll explore how to distinguish between consumable and bearer assets, deal with valuation changes, and ensure tax returns align with accounting records. Real-world examples will show how to manage livestock gains, crop valuations, and input deductions. Whether your client runs a small farm or a large agribusiness, this practical session will help you apply the rules confidently and keep SARS satisfied.

Presenter/s

Johan Heydenrych is a taxation specialist since 1991, Johan is known for his expertise in complex tax advisory and compliance, currently serving as a partner at Kreston SA.

What will set you apart

By attending this webinar you will gain the following competencies:

  • Understand how tax law treats biological assets, consumable and bearer assets
  • Apply the correct principles for revenue, capital, and revaluation adjustments
  • Handle timing, recognition, and valuation challenges unique to farming operations
  • Manage deductions, allowances, and wear-and-tear rules for agricultural businesses
  • Identify common SARS audit triggers in farming and agribusiness entities
  • Advise clients confidently on compliance and planning opportunities within the tax framework

Event breakdown

Part 1 – Understanding the Framework

  1. Overview of tax principles for agricultural activities
  2. Definitions and classifications of biological assets (consumable vs bearer)
  3. Accounting vs tax treatment — key differences and adjustments

Part 2 – Taxation in Practice

  1. Income recognition: produce, livestock, and biological changes
  2. Deductible expenses, capital allowances, and section 12B considerations
  3. Wear-and-tear, improvements, and repairs in farming enterprises

Part 3 – Valuation and Reporting

  1. Valuation methods and fair value adjustments under IFRS for SMEs
  2. Managing valuation changes and deferred tax implications
  3. Reconciliation between accounting profit and taxable income

Part 4 – Compliance and Risk Management

  1. SARS focus areas and common audit findings in the agricultural sector
  2. Documentation, recordkeeping, and supporting schedules
  3. Case studies: livestock sales, crop production, and mixed-use farming

Part 5 – Practical Application

  1. Example calculations and disclosure requirements
  2. Tax planning tips for seasonal income and expenditure
  3. Discussion and Q&A: complex real-world scenarios

Certificate

The following event is awarded 1 CPD unit in Taxation.

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