Income Tax (National Average Market Values of Specified Livestock) Determination 2026
Income Tax (National Average Market Values of Specified Livestock) Determination 2026
This determination is made under section EC 15 of the Income Tax Act 2007 by the Commissioner of Inland Revenue.
Determination
1. Title
This determination is the Income Tax (National Average Market Values of Specified Livestock) Determination 2026.
2. Commencement
This determination comes into force on 29 May 2026.
3. National average market values of specified livestock
For the purposes of section EC 15 of the Income Tax Act 2007 the national average market values of specified livestock, for specified livestock on hand at the end of the 2025-26 income year, are as set out in the Schedule.
Schedule
National average market values of specified livestock for the 2025-26 income year
| Kind of Livestock | Classes of Livestock | National Standard Cost $ |
|---|---|---|
| Sheep | Ewe hoggets | 188.00 |
| Ram and wether hoggets | 180.00 | |
| Two-tooth ewes | 265.00 | |
| Mixed-age ewes (rising three-year and four-year old ewes) | 237.00 | |
| Rising five-year and older ewes | 205.00 | |
| Mixed-age wethers | 176.00 | |
| Breeding rams | 431.00 | |
| Beef cattle | Beef breeds and beef crosses: | |
| Rising one-year heifers | 1319.00 | |
| Rising two-year heifers | 1959.00 | |
| Mixed-age cows | 2376.00 | |
| Rising one-year steers and bulls | 1619.00 | |
| Rising two-year steers and bulls | 2273.00 | |
| Rising three-year and older steers and bulls | 2807.00 | |
| Breeding bulls | 5008.00 | |
| Dairy cattle | Friesian and related breeds, Jersey and other dairy breeds: | |
| Rising one-year heifers | 1326.00 | |
| Rising two-year heifers | 2598.00 | |
| Mixed-age cows | 2824.00 | |
| Rising one-year steers and bulls |
1214.00 | |
| Rising two-year steers and bulls |
2070.00 | |
| Rising three-year and older steers and bulls | 2591.00 | |
| Breeding bulls | 3035.00 | |
| Deer | Red deer, wapiti, elk and related crossbreeds | |
| Rising one-year hinds | 295.00 | |
| Rising two-year hinds | 525.00 | |
| Mixed-age hinds | 612.00 | |
| Rising one-year stags | 383.00 | |
| Rising two-year and older stags (non-breeding) | 691.00 | |
| Breeding stags | 3370.00 | |
| Other breeds: | ||
| Rising one-year hinds | 241.00 | |
| Rising two-year hinds | 387.00 | |
| Mixed-age hinds | 450.00 | |
| Rising one-year stags | 329.00 | |
| Rising two-year and older stage (non-breeding) | 635.00 | |
| Breeding stags | 2235.00 | |
| Goats | Angora and angora crosses (mohair producing): | |
| Rising one-year does | 136.00 | |
| Mixed-age does | 173.00 | |
| Rising one-year bucks (non-breeding).wethers | 89.00 | |
| Bucks (non-breeding)/wethers over one year | 95.00 | |
| Breeding bucks | 512.00 | |
| Other fibre and meat producing goats (Cashmere or Cashgora producing): | ||
| Rising one-year does | 105.00 | |
| Mixed-aged does | 155.00 | |
| Rising one-year bucks (non-breeding)/wethers | 84.00 | |
| Bucks (on-breeding)/wethers over one year | 101.00 | |
| Breeding bucks | 442.00 | |
| Milking (dairy) goats: | ||
| Rising one-year does | 164.00 | |
| Does over one year | 254.00 | |
| Breeding bucks | 418.00 | |
| Other dairy goats (culls) | 76.00 | |
| Pigs | Breeding sows less than one year of age | 314.00 |
| Breeding sows over one year | 395.00 | |
| Breeding boars | 423.00 | |
| Weaners less than 10 weeks of ages (excluding sucklings) | 149.00 | |
| Growing pigs 10 to 17 weeks of age (porkers and baconers) | 287.00 | |
| Growing pigs over 17 weeks of age (baconers) | 369.00 |
This determination was made in Christchurch on 26 May 2026.
Stephen Donaldson
Technical Lead, Legal Services
Inland Revenue
Explanatory note
This note is not part of the determination but is intended to indicate its general effect.
The Income Tax (National Average Market Values of Specified Livestock) Determination 2026 sets the national average market value of specified livestock for the 2025-26 income year.
Section EC 15 of the Income Tax Act 2007 (the Act) requires the Commissioner of Inland Revenue (the Commissioner) make a determination declaring the national average market values (NAMV) for an income year for each class of specified livestock set out in Schedule 17 of the Act. Historically, this determination has been published in May each year.
NAMVs are declared for an income year and used by taxpayers, that are in the business of livestock farming, to value any specified livestock that they have on hand where the taxpayer has elected to use the herd scheme to value that livestock in the income year.
NAMVs provide the national average market value for the specified livestock classes. They may not always reflect the market value of the livestock of a particular taxpayer, or even of a particular region. Because of this, the values are not intended to be used for any other purpose than that for which they are produced; valuing livestock of taxpayers who have elected to value their livestock under the herd scheme in the income year for which the determination relates.
To ascertain the national average market value of the various classes of livestock the Commissioner contracts with highly experienced livestock valuers situated throughout the country[1]. Each valuer is asked to provide the market value of the various specified livestock classes located in a specified region. There is generally more than one valuer contracted for each region. The market valuations required are for “good quality on-farm animals (capital stock) on 30 April”.
From these values the Commissioner then calculates the national average market value for each livestock class. In the case of the sheep, beef, dairy cattle and deer (red, wapiti and elk) classes a weighted average is used against the values produced by each valuer. The weighted average is calculated based on total livestock numbers for a type of livestock in a particular region compared to the national herd numbers for that type of livestock[2]. Because of their comparatively low numbers, a straight average is used for the remaining livestock types (except “other deer”). The value of “other deer” is taken as the mid-point between the “trophy market” values and the “meat market” values.
[1] Thirty-eight valuations were obtained for the 2026 determination.
[2] Numbers are based on data collated by Statistics New Zealand.
Legislative information
This instrument is secondary legislation issued under the authority of the Legislation Act 2019.
| Field name | Information |
|---|---|
| Title | Income Tax (National Average Market Values of Specified Livestock) Determination 2026 |
| Principal or amendment | Principal |
| Consolidated version | No |
| Empowering Act and provisions | Income Tax Act 2007 Section EC 15 |
| Replacement empowering Act and provisions | Not applicable |
| Maker name | The Commissioner of Inland Revenue Department |
| Administering agency | Inland Revenue Department |
| Date made | 26 May 2026 |
| Publication date | 28 May 2026 |
| Notification date | Not applicable |
| Commencement date | 29 May 2026 |
| End date | Not applicable |
| Consolidation as at date | Not applicable |