RSM Australia

Agribusiness

RSM offers agribusiness experts across australia

The Australian agribusiness sector is a significant driver of the Australian economy.

With a strong track record in generating international investment throughout the agricultural supply chain, Australia’s diverse climate, geographic isolation and leading quarantine and monitoring regime has earned it a place as a leader in agriculture. 

Contact a agribusiness business expert

We have been helping agricultural businesses in Australia achieve their financial, operational and strategic objectives for over 95 years.

Regardless of size or location, our team understands the ever-changing agribusiness landscape and have the specialist knowledge that is required to address the challenges faced by farming businesses. From family owned to large publicly traded farming businesses, we understand the social and economic issues faced by the agricultural sector and the long association with the sector is one that we are particularly proud of.

KEY CONTACT


How can we help you?


Our unparalleled regional presence has also helped us stay close to primary producers and post-farm gate businesses across the country. 

Technology has changed agriculture and accounting dramatically but one constant over the years is the willingness of RSM accountants to travel to the family farm or business to sit down and discuss the financial affairs with you.

With a passion for the industry and its values, our team of advisors to growing small-and-medium sized enterprises (SMEs) in agribusiness have strong technical knowledge of the complexities associated with running a farming enterprise.

While recognising the importance of compliance in areas such as tax and employer superannuation obligations, our team also help SME owners focus on the long-term by taking the next step to wealth creation through sound business planning.

Contact a agribusiness business expert


From external and internal audits to implementing risk management strategies to tax compliance to valuations and restructures, our corporate services arm will deliver industry-focused solutions drawing on global and local perspectives.



Contact a agribusiness business expert

Whether your business is a “hobby farm” or one of Australia’s largest food suppliers, RSM understands the vast nature of agribusiness. RSM has experience with businesses that operate in:

  • Agriculture and food production
  • Pastoralists and livestock graziers
  • Horticulture
  • Wineries
  • Commercial fishing and aquaculture
  • Transportation and machinery

Contact a agribusiness business expert
Contact a agribusiness business expert

RSM is a proud member of The Farming Team,
 a collaborative effort to support Australian farmers.

The Farming Team >>

RSM offers Safe Harbour strategies

Farmers and Communities to Receive Further Drought Relief Funding

4 October 2019
Drought-affected communities and farmers will get an immediate cash injection, with the Federal Government promising a new $100 million drought relief package.

Negative Gearing of Vacant Land - is this the beginning of the end?

6 September 2019
The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 was introduced to Parliament on 24 July 2019. One significant measure of the Bill is the introduction of proposed legislation to limit deductions for losses or outgoings incurred in relation to holding vacant land.

Farm Management Deposits – Are they still an effective tax planning tool?

19 August 2019
The farm management deposits (FMD) scheme is designed to allow primary producers to manage their tax, enabling them to shift income from good to bad years. However, the FMD scheme has a number of limitations which mean that the scheme may not be a suitable tax planning strategy for all taxpayers.

How Is Your Budget Going?

19 August 2019
“Why bother to budget, it never goes to plan…”

Long term succession and estate planning

5 August 2019
Bill Beard covers the Do's and Don'ts of long term succession & estate planning. Below are some insights at a glance: Treating your children fairly does not necessarily mean equally Honest communication is crucial

Three tips to being a growth-ready farm

29 July 2019
With the steady consolidation of farms across Australia and the increasing pressure on efficiency, being growth-ready means formulating a strategy to suit your growth plans. Here are three tips to ensure you have a growth-ready farm.

Keep your succession plan on the right road!

28 July 2019
At the mention of the words “Succession Planning”, many different emotions may arise. For some, it can be a confusing and difficult time. For others, a more enjoyable experience, an opportunity to help the next generation grow and develop.

Single Touch Payroll - Ins & Outs for Employers

26 July 2019
The Single Touch Payroll (STP) compliance date is here. Whilst if you have over 20 employees you should already be reporting through STP, employers with less than 20 workers will need to start on 1 July 2019.

Superannuation & the federal election – change is on the horizon

3 May 2019
With a federal election just weeks away and party campaigning in full swing, what changes to superannuation may be on the horizon? Coalition Win: Unscathed Superannuation

Big change for small business - Get ready for STP

16 April 2019
There are further compliance changes in the wind for businesses.  The Government is in the process of implementing a new reporting system which is focussed on streamlining payroll procedures.  This will impact on employer and employee alike.

Ways to use 'the cloud' in your business

16 April 2019
Clouds are generally a good thing for farming.  Whether that be the first hopeful signs of rain after long periods of drought or the relief at getting rain at just the right time, clouds are generally welcomed by the farming community. 

Farm Management Deposit offset

13 November 2018
Coverage of the drought that has impacted much of the farming community in central and eastern Australia throughout 2018 and earlier years has been unprecedented.  National and international media have shared stories of farmers doing it tough, fighting to keep their livestock going when feed and water are scarce and for nearly all, massive fin

How to Maintain the Family Farm

22 August 2018
In most cases the older generation will make the decisions on how their assets will be divided and who will take over the management responsibility of the farm.

Memory loss and its impact on the family farm

4 July 2018
As life expectancy has increased, so has the number of people suffering from memory loss from conditions such as dementia and Alzheimers. So, have you ever wondered what would happen to your farm if you came down with a mental illness resulting in memory loss and judgement? What if your spouse loses his/her mental capacity?

Avoiding a Will dispute

15 May 2018
One of the most difficult issues facing parents is how to treat their non-farming children fairly, whilst at the same time leaving the valuable farm to the farming child or children. 

Is your Will about to explode?

5 March 2018
Far too many Wills exist which, when "detonated", will create huge problems for farming families. This article aims to reduce these potential disasters. 

Estate planning is not a dead issue

31 January 2018
One way to really focus on farm succession is to ask: What would happen if both Dad and Mum died tomorrow?

The Power of Farmland in Superannuation

1 January 2018
Acquiring, farmland inside a Self Managed Superannuation Fund (SMSF) that can then be leased to a related party is popular strategies for farmers to help build their wealth for retirement. Make this a stress free transaction by considering the following issues: Arms-length transaction requirements

One size does not fit all

29 November 2017
In my previous article, I discussed transferring the family farm to a child without paying stamp duty. The next important step is to seek professional advice as to the capital gains tax implications if the farm was transferred.

There are opportunities no matter what this harvest may deliver

16 November 2017
Bad years on the farm are hard to take, but there are often enormous opportunities for positive outcomes in the area of tax planning and succession planning that can be of huge benefit to the farm’s future.

Victorian farm stamp duty savings

30 October 2017
A significant part of any farm succession plan is planning for retirement. Given ever-increasing farm, living and education cost, most farming enterprises will only support one child and their family of the succeeding generation.

Get the right advice or pay the price | Family farms

6 September 2017
Family farms are part of the fabric of rural Australia. Unfortunately the landscape is dotted by a large number of farms that disappeared from families who either had no succession plan or the estate plan was seriously inadequate.

Farm Succession Planning and the four A’s

25 July 2017
Farm succession planning has been described as developing a strategy to work out whether someone will take over the farm or whether it will be sold when the owner retires or dies.

Farm Management Deposits - do you have a plan for the end?

24 July 2017
Farm Management Deposits (FMDs) are an integral part of year end planning for Primary Producers.

Follow the winding road | Farming succession planning

16 June 2017
Farming is a journey with the inevitable ups and downs, smooth roads, pot holes, straight stretches and the odd blind corner. The process of succession planning, on the other hand can lead to a destination, be it good, bad or ugly.

Off-Farm Super Investment Options

2 June 2017
Investing in assets off-farm and away from your agribusiness can be a worthwhile strategy to diversify risk.

Disaster relief for flood affected communities in Western Australia

14 February 2017
In light of the recent flooding across our WA’s South West, The WA Government is offering immediate financial assistance to those affected.  Learn more...

Multi-peril crop insurance - protect your season's success from unexpected damage

3 February 2017
Not everyone has the capacity to overcome a bad year, farmers with equity below 75 percent are urged to seriously consider taking up multi-peril crop insurance while you still can. If you want cover, act now.

15 percent backpacker tax, a win for primary producers

5 December 2016
After waiting 18 months for legislators to reach a sensible conclusion to the highly contentious backpacker tax, a vote for 15 percent in the final hours of the parliamentary year is a major victory for long-suffering Australian farmers.

Budget 2016 for Agribusiness

3 May 2016
Key announcements Whilst there are no specific incentives for Agribusiness, many of the proposed changes will impact this sector including:

Proposed Amendments to Farm Management Deposit Scheme Fall Short

15 March 2016
The Australian Government proposes to introduce legislation into parliament in August 2016 to change Farm Management Deposits (FMD) to: Increase the FMD cap from $400,000 to $800,000 Provide an early access trigger during times of drought

Tips to improve your cash flow

17 February 2016
The start of the new year provides small businesses with the perfect opportunity to improve their credit management and cash flow conversion cycle. Here are some tips for improving your credit management and cash flow in 2016:

Where to with the Wine Tax?

7 January 2016
Anyone working with the wine tax on a day-to-day basis would agree it is not a simple tax. The basics are straightforward, it is around the edges where it gets difficult. 

Drought Concessional Loan scheme

18 December 2015
The Australian Government has recently announced $30 million to support farmers dealing with drought conditions across Victoria.

Financial assistance for aged care available

15 September 2015
Farmers with a family member entering aged care may find the costs of entering a facility very high - often a six-figure sum.

Stamp duty exemption for young farmers

10 September 2015
Young farmers considering purchasing their first piece of farmland should be aware of potential stamp duty savings available. This Victorian Government scheme has now been in place for some time, but has received little publicity. Consequently, very few farmers have accessed the concession.

Maximising superannuation when selling the farm

24 August 2015
In my experience a lot of farm owners, when asked what they think of superannuation, will remark ‘my farm is my super fund’.  However what happens when the farm is sold?

Foreign ownership of agricultural land register

18 August 2015
As you have seen in the media over the past six months, the level of foreign ownership in Australian real property, and in particular agricultural land has been a hot topic of debate.

Lowdown on tax concessions

10 June 2015
This is the time of the year when farmers get their last chance to reduce any tax liabilities before it is simply too late. With fantastic cattle prices, strong demand for sheep meat and finally wool prices heading north, suddenly livestock producers have a tax problem. Admittedly, grain yields and prices were lower than the previous year, but many farmers sold car

Small businesses instant asset write-off

29 May 2015
Instant write-off for small businesses Small businesses will be able to claim an immediate tax deduction for each asset that costs less than $20,000 (net of GST credits), to the extent the asset is used for tax-deductible purposes. 

What aged care means

29 April 2015
We know there is high probability of entering aged care in later life. Quite likely, due to ill health at that time we will be unable to cope with all the decisions and forms required at that time. Making sure we have nominated somebody as our trusted financial power of attorney, long before that event, will make the process so much easier.

WA state tax exemption for charitable bodies or organisations

10 April 2015
How will the changes affect your organisation?

Is your business ready for sale?

1 April 2015
There are many reasons you might sell your business, including to capitalise on your investment and start a new business or another venture. Whatever the reason, the decision to sell your business does not come easily, and as the business owner, you want to make sure that you get the most out of the sale.

Answer could be multiple SMSFs

31 March 2015
I am often asked the question, can or should my adult children be members of my self-managed superannuation fund (SMSF)? In practice there is no hard and fast rule when it comes to including children.

How to minimise the risk of aquisitions

30 March 2015
Merger and acquisition activity is soaring in some sectors such as healthcare, while it is taking a backseat in other sectors such as mining services. In this climate, businesses must take a step back and evaluate the benefits and risks of making acquisitions in their sector.

Clarify death taxes

19 March 2015
We know that if superannuation passes to our spouse or children under 18 on our death, there is no tax to pay. On the other hand, some or all of our superannuation benefits will be taxed at either 15% or 17% when it passes to an independent adult child.

Fringe benefits tax – tax tips for year end

16 March 2015
With 31 March just around the corner, many businesses are focusing on ways to reduce their fringe benefits tax (FBT) liability. We have therefore provided the following strategies that may help in reducing FBT.

Payroll tax update for WA

5 March 2015
Payroll tax threshold The Western Australian payroll tax threshold went from $750,000 to $800,000 on 1 July 2014. Plans to raise it to $850,000 have been delayed to 1 July 2016 (at this stage!).

Super is so much more

26 February 2015
Yes, we have had our self-managed superannuation fund for a number of years. Our accountant looks after the tax each year, we sign a few papers, pay a few invoices and generally everything is pretty straight forward.

Tips and traps with super

11 February 2015
You have worked hard and accumulated a decent amount in your self-managed superannuation fund. Besides holding a cash component to pay the bills and your minimum annual pension, you have also built up other assets for your retirement.

Reduce tax on your super

21 January 2015
Investing your hard earned monies into superannuation can have one serious sting in the tail. Put simply, your non-dependent children will pay 17% on the taxable portion of your superannuation benefits when you die. The aim with any tax impost is to reduce it as much as possible, whilst complying with the laws of the day.

How to combat super death tax

13 January 2015
Many years ago we had death taxes, otherwise known as probate duty. This tax was imposed by both State and Federal governments with gift duties thrown in just to make sure you did not die with no assets and avoid paying probate duty. Because farmers are asset rich and income poor, death duties were seen to be very unfair.

Case study: Hutcheon and Pearce

1 January 2015
The global population is expected to total more than 9 billion by 2050 and farmers will need to double their agricultural output while using the same amount of land, water and other resources. This challenge is one that General Manager of Hutcheon and Pearce, Arron Hutcheon, is ready to play a part in.

Case study: Wills Domain

1 January 2015
Margaret River in Western Australia is Australia’s premium wine region. The region has weather moderated by the Indian Ocean and lots of sunshine.

Case study: Cambinata Yabbies

1 January 2015
Cambinata Yabbies are found in the world’s finest restaurants, but how many diners are aware of the extraordinary woman who pioneered Western Australia’s aquaculture industry in the face of recession and drought to bring this delicacy to their table?

Case study: Avondale Farm

1 January 2015
2014 marked a significant milestone for 2012 NSW Farmers of the Year Peter and Alison Campbell.  Over 100 years ago Peter’s grandfather started farming 640 acres (260 hectares) 17 kilometres west of Henty, near Albury in the Eastern Riverina area.