RSM Australia

Farm Weekly

Maximizing the value of a farm budget

21 January 2021
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.

Effective Budgeting for agribusiness

4 January 2021
With harvest rapidly ending, attention is turning to the next phase in the farming business operation, planning for the next season. A good way to start planning is to prepare your budget for the coming year!

What is your success?

30 November 2020
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?

The Business Lifecycle in 2020?

20 November 2020
A business will go through different stages over time, in a pattern that has been repeated throughout the ages.

Budget 2020 - Game Changer

5 November 2020
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.

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.

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.

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.

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: