Carrick Aland’s Succession Planning Workshop in Pittsworth helped farm families understand financial stability, family continuity and fairness, and gain a foundation for confident succession planning in the future.
Carrick Aland’s free succession planning workshops with Wayne Turner are tailored for farming individuals or family groups entering the journey of farm succession. Register now to secure your free place in Pittsworth 15 November.
Our article explores how elderly clients with farm assets face financial struggles in affording aged care and emphasises Carrick Aland Wealth Planning’s retirement projection service as a solution to help them plan for a secure future.
Read why tax planning is essential for primary producers. It can have a significant impact on the financial well-being of your farm or farming business.
Under the Federal Budget handed down this month, farmers can instantly write off the full value of machinery purchases. Previously, a portion would have been tax-deductible in the first year, and the rest would have depreciated over future years.
There is a lot of good to be achieved when succession planning is taken on proactively and within a structured process. Having wholesome conversations that discover the objectives and desires of all involved and dealing with challenging decisions without delay makes the process much easier and rewarding for all.
By failing to commence a transition, farming families could not only miss out on the business advantages that come from nurturing and developing another level of management autonomy, but also run the risk of missing out on real financial opportunities that have the potential to deliver a significantly enhanced the outcome for all.
Financial support of up to $3,000 is available to eligible drought-affected households through the Drought Community Support Initiative Round 2.
