Thread: Possums and cash

hi, what or which Govt legislative act allows tax free income from possum fur.

IRD call centre persons reckoned activity/income = taxable on profit apart from $200 a year (I guess allowed for pocket money, or your one night out a year -).

Can figure out method using standard business methods to achieve a better distribution to the trapper or owner, yet was hoping for simple way.

And of course operating as Mr or Ms c.ash - which might not be 100% legal.

-be careful in your reply please, some IRD brat may be reading.

Anything?

the same one as whitebait?

OK, so far what I've found

--I am not a lawyer/accountant/govt advisor--so these are my findings and personal thoughts only==check to protect yourselves.

Tax free may mean no withholding tax held back by the the fur buyer (currently) as per schedule 4 of the income tax act.
In particular-part H s3.

So the payment the fur buyer hands to the provider, is as it is, and guess is meant to be declared at an appropriate time.

Maybe some else has the answer. Seems like company/trust in a specific form may be the legitimate way.