Farmlands Upcoming Rebate
Oct 03, 2022
Farmlands Upcoming Rebate
For the first time since 2018, Farmlands intend to pay a rebate to all shareholders with more details to be released in the coming weeks.
It’s important to note that this rebate, like your Ballance or Ravensdown rebate, does not need to be returned for GST and needs to be coded appropriately to reflect this. For everyone with a Malloch McClean chart, there should be a code called ‘Sundry Farm Income – Rebates (No GST)’ for you to use that has the correct GST treatment set. If you are unsure that your chart has a code or you need some assistance processing this rebate, feel free to contact us - we will happily sort it out for you.
Please also remember to keep the rebate notice to pass on to us at the end of the financial year, when we prepare your accounts.