tractor and air seeder working in paddock

EOFY Planning. If It’s Not Done Now – Do It Immediately

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…

Aged Care Financial Planning

Aged Care financial planning for Farm Succession
Don’t leave it until it’s too late…

Retirement and aged care financial planning is complex, but even more so for farming families… Typically, the net worth of the retiring generation is tied up in the property and farming business, there is limited superannuation savings that can support retirement and aged care needs, and often no entitlement to social security safety net benefits.…

Make hay while the sun shines

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.

Federal Budget 2017

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,…

Contributions – what the changed concessional and non-concessional caps may mean for you

With many of the changes announced in the 2016 Federal Budget now passed by Parliament, there is an amount of certainty that you can have when approaching your SMSF planning and the contributions you might wish to make to your SMSF. The Government is lowering both the concessional (pre-tax) and non-concessional (after-tax) contribution limits from…

There’s never been a better time to consider your financial future

When many people think about financial planning, they think it’s all about savings and investments, but there are many other facets that everyday Australians need to take into account when considering their overall financial situation. Statistics reveal that one in four people living in rural and regional areas is suffering from cardiovascular disease and men…