Dairy Produce (Gross Value of Production for 2023-24) Determination 2024

Overview

The Dairy Produce (Gross Value of Production for 2023-24) Determination 2024 was enacted to specify the gross value of whole milk produced in Australia for the financial year starting 1 July 2023 and ending 30 June 2024, as required under the Dairy Produce Act 1986. This Determination was made by Joanna Stanion, the delegate of the Minister for Agriculture, Fisheries and Forestry. The policy objective behind this legislation is to provide a clear and accurate valuation of the whole milk production for the specified financial year, ensuring that all stakeholders have a definitive figure for financial, regulatory, and statistical purposes. This is a critical piece of information for the dairy industry, impacting subsidies, taxes, and economic assessments. The determination reflects the gross value of whole milk production, which is essential for maintaining transparency and accountability within the sector.

Scope and Application

The Dairy Produce (Gross Value of Production for 2023-24) Determination 2024 applies specifically to the determination of the gross value of whole milk produced within Australia for the financial year beginning 1 July 2023 and concluding on 30 June 2024. This determination is made under the authority of subsection 6(4) of the Dairy Produce Act 1986 and sets the gross value of whole milk at $5,653,199,000. The legislation pertains to the dairy industry, particularly those involved in the production of whole milk, including dairy farmers, processors, and any associated entities within Australia. The determination has a national jurisdictional reach, applying across the entire Commonwealth of Australia and ensuring uniformity in the valuation of whole milk production for the specified financial year. There are no stated exclusions, exemptions, or thresholds within this Determination; however, the application of the Act may be extended or restricted through subordinate instruments that might provide further clarification or specific conditions under which the gross value is assessed and applied.

Key Provisions

The main operative sections of the Dairy Produce (Gross Value of Production for 2023-24) Determination 2024 (sections 1 and 2) establish the gross value of whole milk produced in Australia for the specified financial year. Specifically, section 1 declares that the gross value of whole milk for the period from 1 July 2023 to 30 June 2024 is set at $5,653,199,000. Section 2 identifies Joanna Stanion, as a delegate of the Minister for Agriculture, Fisheries and Forestry, as the individual making the determination under subsection 6(4) of the Dairy Produce Act 1986. These provisions set the financial benchmark against which the industry's performance and contributions are measured. The obligations imposed by this Determination primarily concern the accurate reporting and valuation of milk production by entities within the dairy industry. Producers and processors must adhere to the stipulated gross value to ensure compliance with financial and regulatory reporting requirements. This includes the submission of accurate data to the Department of Agriculture, Fisheries and Forestry as needed. The Act expects these entities to use the determined value for calculating their contributions and liabilities under related agricultural schemes and subsidies. Failure to comply with the provisions of this Determination may result in various consequences. Firstly, incorrect reporting of milk production values could lead to financial discrepancies and potential audits by regulatory authorities. If discrepancies are found to be due to negligence or intentional misrepresentation, entities may face administrative penalties. While the specific penalties are not outlined in this Determination, they can include fines or other corrective actions as stipulated under the broader Dairy Produce Act 1986. Additionally, ongoing non-compliance may impact an entity's eligibility for government support programs, thereby affecting their financial stability and operational capacity.