RSM Australia

agribusiness

Agribusiness - what's the point of change?

22 October 2020
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.

Connecting with the ATO via the Business Portal

8 October 2020
One of the greatest initiatives rolled out by the Australian Taxation Office (ATO) would be the creation of the Tax Agent Portal.

Rental properties: An ATO hotspot

24 September 2020
Rental properties are a great investment to help build off farm assets, which can be used later in life as part of a great succession plan. In the meantime, you can enjoy earning a bit of off farm income and perhaps claiming a few deductions along the way, but it’s important to know what you can claim and how much you can claim.

Succession Planning tips for farming families

11 September 2020
Succession planning for farming families can be quite daunting and there certainly are some horror stories on how it can spiral out of control. The flip side is succession planning can be a very rewarding process for all involved if tackled with goodwill and respect.

Nine top tips to maintain a healthy cash flow

27 August 2020
It does not matter what business you are in, cash flow is vital for survival. This is even more important in the current COVID-19 environment. The team at RSM has put together the following tips to assist you to maintain a healthy cash flow.

Working "on" your business

24 August 2020
All business owners know they should be working more “on” the business than “in” it, but most never find the time as they are just too busy.

Word of Mouth Marketing

24 August 2020
Word of mouth marketing is business’ best-known secret. This is an oxymoron I hear you say and that most business people know how important word of mouth marketing is. What they forget is that the key to success is excellent customer service.

What value can marketing provide your business?

24 August 2020
Do you ever feel like marketing your business is just too hard? Don’t give up. It just takes a bit of planning to make marketing an asset that is well-directed and cost-effective.

Rental property FAQ's and common issues tackled

17 August 2020
During these uncertain times of COVID-19, some clients have used the time to assess their finances and plans for the future.

COVID-19 Lessons for Primary Producers

17 August 2020
The COVID-19 Pandemic has presented great challenges across the globe and will continue to do so for the foreseeable future as governments tread a fine line between the very real public health concerns and trying to jumpstart faltering economies.

Second opportunity - asset write-off extension

17 August 2020
The recent extension of the $150,000 instant asset write-off threshold to 31 December 2020 has given business entities with a turnover of under $500m a second opportunity to access significant tax savings when purchasing equipment.

The Power of Farmland in Superannuation

14 August 2020
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:

Three simple steps to moving online

10 August 2020
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.

JobKeeper 2.0 Updates

3 August 2020
A quick recap as JobKeeper 2.0 has been announced. Time is starting to run out for instant deductions on plant purchases.

National Farm Safety Week 2020

20 July 2020
20 – 24 July 2020 is National Farm Safety Week.

June 30 - The date the gate shuts!

22 June 2020
In business and tax world, June 30 is a critical day of the year. In the lead up to this date, there is much planning, strategising, executing, restructuring, implementing and spending. All of this activity is for a good reason, as after June 30 many opportunities are closed for another year.

Top five farming cloud applications every farm must consider

11 June 2020
The introduction of Single Touch Payroll from 1 July 2019 for most small businesses including farms was the catalyst for them to review their current cashbook software package and in some cases, take the first step in to the world of cloud accounting.

Webinar: Farm Cashbook & Budgeting Software | 8 June 2020

8 June 2020
RSM recently presented a webinar on Farm Cashbook & Budgeting Software Demonstrations. Jo Gilbert, Director at RSM in Albany gave a short demonstration of Xero and Figured followed by a Q&A session.  What was covered:

Seven ways to be more Customer Centric

4 June 2020
In the turbulent and uncertain times that we can experience in business, be that drought, commodity prices or even a Pandemic(!), having a good understanding of your customers and client base will put you at the forefront of your competitors. Here are seven ways to be more customer centric: 

Nine steps for challenging trading conditions

7 May 2020
1. Review and re-review budgets. Assumptions should be checked, and the budget revised accordingly.  The budget tells a story of what the future will bring, and this should be based in fact rather than fiction.

Webinar: Government Stimulus Measures - Specific for farmers | 29 April 2020

29 April 2020
Government Stimulus Measures - the Specifics for Farmers

Government Stimulus Measures – the specifics for farmers

24 April 2020
With increasing cases of information overload being reported, it is not always easy to understand the stimulus measures and detail that are applicable to one’s own business situation. Below we review and specify some of the government assistance and incentives available for farmers in these confusing and uncertain times.

Agribusiness - Coronavirus Pandemic

23 March 2020
The Coronavirus pandemic has arrived in Australia at a time when farmer sentiment was on the rise, following some widespread rainfalls and a touch of green appearing across parts of the country. 

Economic impact of COVID-19 on agribusiness

16 March 2020
The coronavirus (COVID-19) represents significant short-term risks to international demand for Australian meat and fisheries products and is expected to cause medium level disruption over the longer term.

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.

Understanding the instant asset write-off for farmers and small business

20 September 2018
Australian business owners rejoice – legislation extending the well regarded instant asset write-off program has been passed. 

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?

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.

Farm Succession - How to Generate Income When Retiring From Your Farm

20 September 2017
One question I am often asked by my farming clients when considering farm succession is...

The Farming Team

20 September 2017

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.

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: 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.