Should farmers aim for Centrelink or not?

Category Archives: Tax Strategy

Should farmers aim for Centrelink or not?

centre link changes

Transitioning a family farming business to the next generation We recently advised a couple in their late 50’s on how they could best transition their family farming business to the next generation. From our experience, the most important thing to address first in any family succession plan is the financial security of the parents.  It’s virtually impossible […] Read More >

Proposed changes on Farm Management Deposits

Succession Planning for Farming Families

Over the last year we’ve been asked numerous times from farmers about changes to Farm Management Deposits (FMD) limits. We’ve been in the dark on this topic until we received a press release from DMAW Lawyers in Adelaide last week.  I’ll outline a summary of the Government’s intentions and the proposed changes.  The news will […] Read More >

Understanding the $20,000 Small Business Instant Asset Write-Off

instant-asset-tax-write-off

The May Federal Budget included a popular item for small businesses, which allowed them to instantly write-off a purchased asset worth up to $20,000.  This announcement instantly threw up many questions as to how and when this rule could be applied. I will try to answer some useful questions in relation to this announcement: In […] Read More >

Seeking advice before tax time could save thousands

Buying farm land using superannuation

It’s hard to fathom but we’re almost half way through 2015 and only a month away before the end of the financial year.  June marks your last opportunity to review and take action on your tax position before we roll over to the next financial year. Come July 1st you start again. An important part of […] Read More >

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