Making timely business decisions without guilt and doubt
In the realm of primary production and farming, the ability to make swift decisions is a crucial skill. The ever-changing nature of agricultural landscapes demands quick thinking and adaptability. However, the pressure to make timely choices can often be accompanied by feelings of guilt or uncertainty.
How much super can I contribute in 2023?
Adding to your super through voluntary contributions can help grow your retirement savings, however, if you add too much in a single financial year, you may be penalised. That's why it's important to know the various caps on how much you can contribute, and what's counted towards those limits. Remember to talk to an accountant to find out about your tax implications.
Should I transfer my farm now or wait for it to go through my estate?
Ultimately, the choice is either to hold onto the farm until you die, and pass it on through your estate or to transfer it when you are alive. Transferring the farm while you are alive has some advantages.
Trust Distributions - ATO's position on section 100A
The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.
Being prepared for the unexpected in business
Being prepared for the unexpected is a crucial aspect of running a successful business. The ability to adapt and overcome unforeseen obstacles can mean the difference between success and failure. Here are a few key tips for being prepared for unexpected events in your business.
What happens to my Farm Management Deposits when I retire?
A Farm Management Deposit (FMD) is tool to help primary producers deal with uneven profit and is a bank account similar to a term deposit, but what happens when you cease to be a primary producer?
Farmland Owners - Do you understand your asset structure?
With the current land prices we are finding that there is a significant and increasing disparity between original cost bases and current values. What are you doing to understand this situation?
What you need to know about Self Managed Superannuation Funds
As the name suggests, a self-managed super fund (or SMSF) is a private superannuation fund that individuals manage themselves.
- Accounting & Tax
- Ally Wadwell
- Ashleigh Baldwin
- Debbie Chapman
- Financial Planning
- Fringe Benefits Tax
- Grace Harrison
- Human Resources
- Kerri Schulz
- Leanne Rudd
- Rochelle Cartwright
- Succession Planning
- Workplace Health & Safety