Rural accounting services

RSM is the largest provider of rural accounting services to businesses in the remote communities of Australia.

RSM is the largest provider of rural accounting services to business is regional Australia.Because of our long heritage delivering accounting and advisory services to rural enterprises, we understand the special challenges faced by business owners in remote locations. Our specialist team provide rural accounting services to support practitioners in the regional network, and ensure our rurally based clients receive timely advice, whether simple or complex, regardless of their location.

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. We believe that, this way, we achieve a greater awareness of your farming business and provide a better service as a result.

Rural accounting services for the agribusiness sector
RSM offers a broad range of rural accounting services that are tailored to farmers and agribusinesses.

These services include:

  • Specialist knowledge of rural accounting and taxation issues
  • Business planning for major rural businesses
  • Financial management (from cash books to cash flows)
  • Feasibility studies for community infrastructure
  • Audit of financial statements
  • Restructure of family businesses
  • Succession planning
  • Self-managed superannuation

Understanding your specific needs

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

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An overview of taxation issues in carbon agribusiness

An overview of taxation issues in carbon agribusiness

The Carbon Credits Act 2011 CFI (Carbon Farming Initiative) and supporting regulations have established a framework to allow projects, which remove carbon dioxide from the atmosphere or aim to avoid emissions of greenhouse gases to generate credits.
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Using digital farm finance to future-proof your farm

Using digital farm finance to future-proof your farm

The gross value of agricultural production is expected to reach a record of over $66 billion in 2020–21 according to the Department of Agriculture, Water and the Environment.
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How to structure your tourism or hospitality business

How to structure your tourism or hospitality business

One of the most important steps when taking the plunge into starting a business is also one of the most overlooked parts of the process. Making sure you are set up in the correct structure from the beginning can ensure that serious, and expensive, ramifications are avoided down the track.
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Make hay while the ‘cashflow’ sun shines

Make hay while the ‘cashflow’ sun shines

Have you got good cashflows coming in and ultimately, what are the best ways to use this cashflow?
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Succession plan in place – what needs to be done next?

Succession plan in place – what needs to be done next?

Farming families generally acknowledge that having a documented succession plan is a good idea.
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Managing expectations in farm succession

Managing expectations in farm succession

Farm succession can take on a different meaning for different people and managing expectations around succession is often tricky.
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Farm Succession Planning and the four fundamental questions you need to know

Farm Succession Planning - Four fundamental questions

Farm succession planning is undeniably multifaceted. Not only do you need to consider the needs and wants of the older or retiring generation, but also the younger generation farmer and their siblings – who are probably not all farming, yet will all need to be brought to the table.
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farm budget

Maximising the value of a farm budget

For many farmers preparing a farm budget is all about identifying lending requirements for the year, prior to meeting with the local bank manager. As part of this process, a statement of position is also usually prepared which will calculate the farmer’s equity position.
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success

What is your success?

What does success look like for you? Is it as simple as just getting through the season with the bills paid, or is your road map for the future a bit more complicated? How long do you want to work or need to work?
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Budget 2020

Budget 2020 - Game Changer

Due to the COVID-19 Pandemic, the 2020-21 Budget was deferred from May to October. Over those six months, the changing economic landscape has created a recession and arguably the most severe economic crisis since the Great Depression.
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Agribusiness

Agribusiness - what's the point of change?

I was sitting in a meeting with a client the other week, and the key topic was change. We had recently prepared an Improvement Plan for his business, and a common theme from our review was the automation of financial processes, through better use of their software, and implementing better review processes.
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ATO

Connecting with the ATO via the Business Portal

One of the greatest initiatives rolled out by the Australian Taxation Office (ATO) would be the creation of the Tax Agent Portal.
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Three simple steps to moving online

Three simple steps to moving online

In the modern farming world, we are seeing situations where our clients are spending more time out of the office and more time on the farm, or off-farm doing other life activities.
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Is it time to update your business systems?

Business has changed again - is it time to update your business systems?

Many businesses were planning to put 2019 behind them and were looking forward to 2020 with some optimism.  However, with the impact COVID-19 being felt by all, the first quarter of 2020 has not gone to plan.
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Further Drought Support Announced by the Federal Government

The Federal Government has announced avenues of support for Drought-affected farmers and businesses.
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Farmers and Communities to Receive Further Drought Relief Funding

Drought-affected communities and farmers will get an immediate cash injection, with the Federal Government promising a new $100 million drought relief package.
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Budget 2016 for Agribusiness

Key announcements Whilst there are no specific incentives for Agribusiness, many of the proposed changes will impact this sector including:
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Proposed Amendments to Farm Management Deposit Scheme

Proposed Amendments to Farm Management Deposit Scheme Fall Short

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
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Tax help for those affected by the recent bushfires

Tax help for those affected by the recent bushfires in Victoria and Western Australia

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Drought Concessional Loan scheme

The Australian Government has recently announced $30 million to support farmers dealing with drought conditions across Victoria.
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Case study: Hutcheon and Pearce

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.
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