NEW ZEALAND GAZETTE

No. 133

in accordance with the following formula:

(a × b) + c + d

a + e

where—

a is the number of rising one year male non-breeding dairy cattle of the taxpayer on hand at the end of the immediately preceding income year;

b is the national standard cost for the income year of rising two year male non-breeding dairy cattle;

c is the aggregate purchase cost of male non-breeding dairy cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising two year male non-breeding dairy cattle of the taxpayer at the end of that income year;

d is the aggregate value, for income tax purposes at the end of the immediately preceding income year, of rising one year male non-breeding dairy cattle of the taxpayer on hand at the end of the immediately preceding income year; and

e is the number of male non-breeding dairy cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising two year male non-breeding dairy cattle of the taxpayer at the end of that income year.

Rising two year male non-breeding beef cattle

In respect of the beef cattle livestock type, the rising two year male non-breeding cattle of this type shall have an average value, at the end of an income year, for the purposes of the national standard cost scheme, calculated in accordance with the following formula:

(a × b) + c + d

a + e

where—

a is the number of rising one year male non-breeding beef cattle of the taxpayer on hand at the end of the immediately preceding income year;

b is the national standard cost for the income year of rising three year male non-breeding beef cattle;

c is the aggregate purchase cost of male non-breeding beef cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding beef cattle of the taxpayer at the end of that income year;

d is the aggregate value, for income tax purposes at the end of the immediately preceding income year, of rising two year male non-breeding beef cattle of the taxpayer on hand at the end of the immediately preceding income year; and

e is the number of male non-breeding beef cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding beef cattle of the taxpayer at the end of that income year.

6. Valuation of livestock intake which is rising three year or older male non-breeding cattle

Rising three year or older male non-breeding dairy cattle

In respect of the dairy cattle livestock type, the livestock intake of a taxpayer, being rising three year or older male non-breeding dairy cattle, shall have an average value, at the end of an income year, for the purposes of the national standard cost scheme, calculated in accordance with the following formula:

(a × b) + c + d

a + e

where—

a is the number of rising two year male non-breeding dairy cattle of the taxpayer on hand at the end of the immediately preceding income year;

b is the national standard cost for the income year of rising three year male non-breeding beef cattle;

c is the aggregate purchase cost of male non-breeding dairy cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding dairy cattle of the taxpayer at the end of that income year;

d is the aggregate value, for income tax purposes at the end of the immediately preceding income year, of rising two year male non-breeding dairy cattle of the taxpayer on hand at the end of the immediately preceding income year; and

e is the number of male non-breeding dairy cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding dairy cattle of the taxpayer at the end of that income year.

Rising three year or older male non-breeding beef cattle

In respect of the beef cattle livestock type, the livestock intake of a taxpayer, being rising three year or older male non-breeding beef cattle, shall have an average value, at the end of an income year, for the purposes of the national standard cost scheme, calculated in accordance with the following formula:

(a × b) + c + d

a + e

where—

a is the number of rising two year male non-breeding beef cattle of the taxpayer on hand at the end of the immediately preceding income year;

b is the national standard cost for the income year of rising three year male non-breeding beef cattle;

c is the aggregate purchase cost of male non-breeding beef cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding beef cattle of the taxpayer at the end of that income year;

d is the aggregate value, for income tax purposes at the end of the immediately preceding income year, of rising two year male non-breeding beef cattle of the taxpayer on hand at the end of the immediately preceding income year; and

e is the number of male non-breeding beef cattle purchased during the income year by the taxpayer which are, or would have been if still on hand, rising three year or older male non-breeding beef cattle of the taxpayer at the end of that income year.

7. Valuation of pigs

Pigs valued in the weaners to 10 weeks of age category of livestock

Pigs, on hand at the end of an income year, which are weaners to ten weeks of age (excluding suckling pigs) shall be valued at the national standard cost for the income year for this category of livestock.

Pigs valued in the growing pigs 10 weeks to seventeen weeks of age category of livestock

Pigs on hand at the end of an income year which are growing pigs ten weeks to seventeen weeks of age or pigs which are grown on to an older age (including the purchase of pigs intended for breeding purposes) shall have an average value, at the end of an income year, for the purposes of the national standard cost scheme, calculated in accordance with the following formula:

((a – b – c) × d) + ((a – c) × e) + f

a – b – c + g

where—