With June fast approaching, EOFY is once again on the radar for farming businesses across South Australia. And while most producers know it’s time to check in with the accountant, this year there’s a bit more riding on it than usual. This EOFY isn’t just about balancing the books, it’s about positioning your business for…
November is one of the most valuable months for planning. It sits at that sweet spot between the wrap-up of the current year and the rush of Christmas. It’s time to take stock and to look at what worked well, what didn’t, and what needs to shift before another year begins. For farming families and…
With June fast approaching, EOFY is once again on the radar. And while most farmers know it’s time to check in with their accountant, this year, there’s more to consider than usual.
For farming families, managing debt and regularly reviewing your lender’s terms in context of your needs now and in the coming years, is an administrative task no one is in a hurry to tackle. Debt can work for or against you. To avoid the latter, it’s important to plan and prepare your brief for lenders…
Dealing with competing priorities to be June 30 ready What a beautiful rain our area has had, I’m hoping that everyone got most of what they wanted. It could be said that the rain came just when the forecasters predicted it – they did say a wet autumn followed by a wet winter. Many of…
Achieving tax efficiencies and making the most of your personal or business cashflow is all part of well-considered financial planning. However, you’ll need to plan ahead at tax time.
When it comes to SMSFs and your end of financial year obligations you could try to wing it by yourself but you might find yourself facing a raft of ATO imposed penalties.
If you have put your super planning ‘out to pasture’ due to the competing demands on excess cash associated with running a family farming business, your super balance may not be in tip-top shape.
But making contributions to super just got a whole lot easier… You can now ‘carry-forward’ unused pre-tax contribution amounts from 1 July 2018, allowing you to catch-up your unused super contributions for up to five years. Coupled with the existing rule allowing you to ‘bring forward’ your after-tax contributions to super, you now have real opportunity to boost your super to build your savings for your retirement.
Farm production planning comes with significant stress in terms of maintaining farm business sustainability and achieving profitability, and the fact is, a poor decision can have significant impact on your bottom line for years to come.
What if you could make more informed decisions about production efficiencies and understand the financial impact of different production or planting/stock options before you made decisions – would it help you to achieve better outcomes this year?
On Tuesday 9 May, the Federal Government handed down its Budget for the 2017–18 financial year. According to Federal Treasurer Scott Morrison, this year’s Budget is founded on the principles of fairness, security and opportunity. Mr Morrison claims that the government’s proposed measures will raise almost $21 billion in revenue over the next four years,…