If you run a business, the chances are, you would have created invoices. This can be a time-consuming activity, however with the advances of electronic invoicing (e-Invoicing), the task can be much more efficient.

The ATO has released its final position on how it will apply some integrity rules dealing with trust distributions – changing the goal posts for trusts distributing to adult children, corporate beneficiaries, and entities with losses. As a result, many family groups will pay higher taxes because of the ATO’s more aggressive approach.

A Farm Management Deposit (FMD) is tool to help primary producers deal with uneven profit and is a bank account similar to a term deposit, but what happens when you cease to be a primary producer?

Everyone knows you don’t pay tax on your family home when you sell it…right?

How many horror stories have you heard about farming families getting torn apart when the farm-owner dies?

Self-managed super funds (SMSFs) are required to prepare and implement an investment strategy to help meet their investment and retirement goals.

While it might not seem important at the time, the choice of purchasing entity is critical.

As with most financial decisions, there is not a one-size-fits-all approach – no two people are the same, so there’s no straight answer to this question.

Purchasing rural property? Don’t forget your due diligence! 

Ultimately, the choice is either to hold onto the farm until you die, and pass it on through your estate or to transfer it when you are alive. Transferring the farm while you are alive has some advantages.