The aircraft was engaged in spreading gypsum on pasture. The pilot reported that during the third take-off run of the morning, the engine failed just prior to lift off. The fuel selector was positioned to the rear fuel tank and there was insufficient time to select the front fuel tank and restore fuel supply to the engine. The pilot was unable to stop the aircraft and it ran through a fence and a deep ditch beyond the end of the strip, causing damage to the right wing, right undercarriage and tailplane. The pilot reported that the aircraft had been refuelled the night before by other persons, but not to full tanks. The fuel gauges were inaccurate and the rear tank had actually been almost empty. In addition, the audible low fuel warning was not operational. This accident was not the subject of an on-site investigation.