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As many of us move towards the finishing point of the 2021 grain harvest, I couldn't help but resonate with Kulin agronomist Ben Whisson's description of this year's season. "The holy grail - fantastic yields, great grain, and pricing". Whilst some of our farmers have experienced some levels of frost damage, overall, it's a celebratory tone as we begin planning for the 2022 tax season.
It's vital to begin discussions surrounding cash flow and tax strategies sooner rather than later, particularly with the current challenges for agribusinesses in relation to the price of inputs, machinery and parts supply issues and staffing issues. Overall however, it's a positive time and I'm looking forward to hearing how harvest is going for you.
In the lead up to Christmas, I urge all farming families to consider where they are at with their Farm Succession Plan. With the price of Australian farmland currently surging, there are implications for succession planning within family farms. Off-farm grown children may perceive high farmland values as the on-farm child receiving a superior share of the estate, but for the on-farm children, the land value is simply a vehicle to derive income. It's a difficult scenario requiring advance planning and delicate management.
Gavin has spent the past year working closely with some of our farming families in developing a succession plan to serve them long into the future, well ahead of the transition in ownership stage. I understand it's a difficult topic to address, but it's vital to begin planning sooner rather than later. If you'd like some guidance on where to start, please don't hesitate to reach out to myself or Gavin.
Finally, in the spirit of Christmas, have you heard of the 'Sheepy Ploughy Association Christmas Tractor Run'? Check out the photos below.
This will be my last newsletter for the 2021 calendar year as we head into the Christmas season; 'Agri Cultivate' will recommence in February 2022. I wish you all the best - stay safe, healthy and I hope you are able to enjoy quality time with family and friends. For those continuing on with harvest, best wishes and we'll be thinking of you.
Take care,
14th December 2021
"This year we have finally hit the holy grail — fantastic yields, great grain, pricing — everything that we would want in that regard"...
Machinery and parts supply issues, fertiliser prices and staffing shortages are making times more difficult for farmers.
Sale of a Holbrook property for $40m – which was $10m more than initial asking price – is indicative of record buyer demand.
The Sheepy Ploughy Association 'Christmas Tractor Charity Run' runs for the second year in Warwickshire, England.
The tractor run is a group of over 50 tractors, all dressed up in an array of festive lights, coming from the surrounding areas to show their support to the local charities and communities. Such a fabulous idea!
If you have any questions for me, or would like me to address a topic specifically, please email me directly at melissa@smithshearer.com.au. Alternatively, complete the form below and I'll be in contact.
If you find this newsletter valuable, please forward it on to your agribusiness contacts.
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