RSM Australia

Agribusiness Insights

Agribusinses Insights

Agribusiness grants, rebates and incentives for 2020 in Victoria

18 December 2019
Rural Financial Counselling Service Victoria – North East Programs The vast majority of Eastern Australia’s agricultural regions are now in the grips of drought, and as we move through 2020 it looks like we can expect much of the same with further dry conditions predicted.

Further Drought Support Announced by the Federal Government

20 November 2019
The Federal Government has announced avenues of support for Drought-affected farmers and businesses.

Grain Marketing - A Tax Guide for Common Grain Contracts

18 November 2019
Harvest in the West Australian wheatbelt is well and truly here, we think you (the hard-working farmers) all deserve a cold beer.

Concessions for primary producers impacted by drought

25 October 2019
Australian farmers have been struggling with drought conditions resulting in crop failures and lack of feed and water for livestock.

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.

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.

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. 

On-farm emergency water infrastructure rebate scheme for NSW

15 January 2019
In October 2018, Prime Minister Scott Morrison announced $50m to fund an on-farm emergency water infrastructure rebate scheme to provide financial help to primary producers in drought-affected regions.

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?

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.

Political bid to restore confidence in Murray Darling Basin Authority

1 August 2017
Farmers need greater clarity around what constitutes ‘appropriate compliance’ with Murray Darling Basin Authority water use regulations, before the findings of a badly needed review initiated by the Turnbull government are made public later this year, warns RSM Australia.

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.

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.