Sheep and dairy incomes down

Press, Volume CXI, Issue 32586, 21 April 1971, Page 5

Sheep and dairy incomes down

The average net income of New Zealand dairy farmers and sheepfanners fell slightly in 1967-68, compared with the previous year. However, the average net income of commercial gardeners, orchardists and tobacco growers rose slightly.

The Department of Statistics publication on incomes and income tax is the result of an analysis of materia! derived mainly from income tax returns and tax deduction certificates, and shows representative average figures of income and expenses of fanners. During the year ended March 31, 1968. the average net income of dairy fanners was $3857, compared with $4305 in 1966-67. The average gross income for 1967-68 was $9799 ($10,071) and expenses were $5942 ($5766). Less butterfat was produced in 1967-68. when 560.8 m lb were processed by dairy factories, compared with the previous year’s 574.6 m lb. Receipts from butterfat in 1967-68 averaged $7856, a decrease from $8252 in the previous season—mainly because of drought and facial eczema in several districts, plus a drop in butterfat prices. The average gross income from town milk production rose from $13,659 in 1966-67 to $14,110 in 1967-68. This was accompanied by an increase in average milk production from 53,250 gallons in 1966-67 to 55,550 gallons in 1967-68 and a small increase of one gallon,in the daily quota held. The average net income fell $216, to $5385. The average net income of sheepfarmers fell $1 —from $3BBl in 1966-67 to $3BBO in 1967-68. The average gross income was $11,942 ($12,413) and expenses were $8062 ($8532). Commercial gardeners averaged a net income in 1867-68 of $3215, which was up on the previous year’s $3113. The average gross income for 1967-68 was $8236 ($7981) and expenses were $5021 ($4868).

The average net income of orchardists in 1967-68 was $4211 ($4176), the average gross income was $14,361 ($13,881) and expenses were $10,150 ($9705).

There was also a slight rise in the average net income of tobacco growers, from $2046 in 1966-67 to $2334 in 196768. The average gross income was $9lOO ($8150) and expenses were $6766 ($6104).

Tobacco growing partnerships and companies also showed a rise in the 1967-68 period compared with the previous year. The average net income for a partnership was. $4429 ($3929), and the average net income of companies before deduction of shareholders’ remuneration was $3987 ($2970).