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EC 21: Herd livestock on death before values determined
or “Outdated rule about valuing herd livestock that died before assessment”
You could also call this:

“How to value livestock using nationally set costs”

You can choose to value certain types of livestock using the national standard cost scheme. However, you need to follow the rules described in section EC 9 to use this scheme.

When you use this scheme, the value of your livestock at the end of the year is calculated using a special method. The Commissioner decides how this calculation is done, as explained in section EC 24.

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Next up: EC 23: Determining national standard costs

or “How the Commissioner sets standard costs for raising farm animals”
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Part E Timing and quantifying rules
Valuation of livestock: National standard cost scheme

EC 22National standard cost scheme

  1. A person may choose to value specified livestock under the national standard cost scheme, subject to the restrictions described in section EC 9.

  2. The closing value of the livestock is the cost of the livestock calculated under the determination made by the Commissioner under section EC 24.

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