Tax Happy Hour: Taxation for Agriculture and Biological Assets

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.

1 CPD unit 19 November 2025 1 presenter

What will set you apart

By completing this course 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

Overview of tax principles for agricultural activities
Definitions and classifications of biological assets (consumable vs bearer)
Accounting vs tax treatment — key differences and adjustments
Income recognition: produce, livestock, and biological changes
Deductible expenses, capital allowances, and section 12B considerations
Wear-and-tear, improvements, and repairs in farming enterprises
Valuation methods and fair value adjustments under IFRS for SMEs
Managing valuation changes and deferred tax implications
Reconciliation between accounting profit and taxable income
SARS focus areas and common audit findings in the agricultural sector
Documentation, recordkeeping, and supporting schedules
Case studies: livestock sales, crop production, and mixed-use farming
Example calculations and disclosure requirements
Tax planning tips for seasonal income and expenditure
Discussion and Q&A: complex real-world scenarios

Category: TaxationType: CPD CourseCPD category: Tax

Description

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.

Presenters

Johan Heydenrych — Johan Heydenrych is a Chartered Accountant and tax specialist with more than 30 years of experience in taxation. He was a Tax Partner at KPMG from 1997 to 2020 and is currently a Partner in the Kreston SA network. Johan holds an MCom in Taxation (Cum Laude) and advises clients across a wide range of industries on tax governance, compliance, disputes, technical tax matters, restructurings, mergers and acquisitions.

You will earn a certificate

On successful completion you will receive a certificate for 1 CPD unit in Tax.

Requirements

Laptop, desktop, or mobile device with internet access
Microsoft Edge, Google Chrome, Safari, or Firefox browser