Farms?

Farms?

How does this policy affect farms. eg what happens with a farmer who owns a $5mill farm that this year returns $100k. Tax is assessed on the asset value and say it comes to $300k (6%). Next year the farm makes a loss of $100k but is still assessed to owe $300k. The farm would need to clear $400k+ every year just to pay the tax and show a tiny return. Few farms make returns like this

Official response from completed

http://www.top.org.nz/how_would_farms_be_treated