Agribusiness Insights
With fertiliser prices reaching never-before-seen highs, and the cost of fuel soaring, it’s no wonder many farming businesses across the region are concerned about immediate cashflow in the lead-up to seeding.
Agribusiness investment confidence has surged in the wake of a record grain harvest, but sky-rocketing input costs, including fuel, fertiliser and chemicals, have meant the cost of production is set to soar in 2022 and many farmers are facing immediate cash flow problems.
I think we're all feeling the impact of the political unrest in Ukraine. While individuals are noticing the impacts across petrol bowsers, and in the grocery store, many small businesses are struggling to make a profit in the face of searing costs and limited supplies.
Cheryl says, I grew up in Ravensthorpe. It was – and still is – a small town, which is what I love most about it. Everyone has a sense of being in it together, and the community spirit is strong.
Off the field and into the ins-and-outs of the business side of things, many agribusinesses across the region are considering how to utilise the harvest proceeds to reduce debt and help you build future wealth?
As we are on the tail-end of the region's largest ever grain harvest, there are vital cashflow and tax planning considerations that should be taken into account.
New legislation requires all company directors to apply for a unique Director Identification Number.
Super stapling is new legislation commencing 1 November 2021 and will affect how businesses onboard new employees.
You may have seen that recently the ATO announced changes to the way businesses must now report Single Touch Payroll (STP). There is a chance this might affect reporting for your business, so to clear up any confusion, we’ve put together the below information to help you work out what you need to do.
The ATO have recently expanded their data-matching activity into the Superannuation Guarantee (GS). This means employers obligated to pay SG are facing increased audit activity.
From 1 July 2021, the standard Superannuation Guarantee (SG) rate will increase from 9.5% up to 10%. It’s part of the government’s commitment to increase the SG by half a percent each year until 2025, when the SG rate will reach 12%.
If you intend to claim a tax deduction for super payments you make for employees in the 2020-21 income year, those payments must be accepted by the SBSCH on or before 23 June 2021.