Cashflow Budgeting & Financial Forecasting
Discover effective strategies for agribusiness and business tax planning with our essential guide on interim financial statements. Ensure timely and informed decisions to optimise your taxation position for the 2024 financial year.
Unlock farm profitability in 2024 with Mel's strategic insights! From financial forecasting to embracing technology, navigate market challenges for sustainable success. Connect with Mel for personalised guidance on maximising your farm's potential
The RBA's recent interest rate increase is affecting grain farmers in Australia and worldwide. Local farmers face higher borrowing costs and increased expenses for on-farm grain storage, while globally, rising interest rates disrupt market prices and currency exchange rates. Although some local farmers are well-prepared, the long-term outlook suggests ongoing challenges for the industry. This article highlights the significant impact of economic policies on agriculture.
Delve into the fiscal changes of 2024 as we explore the impact of rising interest rates on Division 7A loans. Learn how these changes affect bank covenants and discover strategies for tax planning. Explore options like dividends, debt-to-equity conversions, and fund procurement, but remember to consult experts for personalised guidance.
Elevate Farm Profitability with Natural Capital: Explore sustainable practices and research findings for eco-friendly, high-profit farming in Australia
The Government has reinvigorated the 120% skills training and technology costs deduction for small and medium business. An election ago, the 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current Government and details released in recent exposure draft by Treasury.
As a primary producer, you can elect to pay income tax at a tax rate based on your average income over the five previous years. This tax concession is called ‘income averaging’ or your ‘five-year average’. The purpose of income averaging is to even-out the income fluctuations experienced in primary production to ensure you don’t pay more tax over time than those taxpayers who are on similar, but consistent, incomes.
The Australian Federal Budget 2022 was delivered on 29 March 2022 by the Federal Treasurer Josh Frydenberg. See our breakdown of the tax measures impacting small business in Australia.
With fertiliser prices reaching never-before-seen highs, and the cost of fuel soaring, it’s no wonder many farming businesses across the region are concerned about immediate cashflow in the lead-up to seeding.