30 August 2011
Seasonal conditions, promising water allocations and a bounce in prices will see record plantings of cotton across the eastern states of Australia over the coming months. This combination of favourable factors has led to the reinvigoration of the Australian Cotton Comparative Analysis (ACCA) – a study which is widely regarded as the industry benchmark for the economics of cotton growing in Australia.
Boyce Chartered Accountants will again collaborate with the Cotton Research and Development Corporation (CRDC) to produce the ACCA, focusing initially on the 2010/11 season.
Phil Alchin, a Director of the Moree office of Boyce, said that the drought and insufficient water led to the ACCA results not being published since the last good cotton growing season in 2006.
26 August 2011
Rain didn’t dampen the enthusiasm of the 35-strong Boyce team as they lined up earlier this month to compete in the annual City 2 Surf event. Indeed the team was spurred on knowing their efforts would help to raise more than $18,000 for the not-for-profit organisation, Angel Flight.
Angel Flight coordinates non-emergency flights for patients and families around Australia in medical or financial need. Angel Flight’s services are free to patients and carers; pilots donate their time, skills and aircraft fees for each flight. The organisation relies entirely on donations and bequests.
Boyce Managing Director, Bernard Kennedy, said Angel Flight was chosen as the charity to support this year as many of the firm’s employees and clients had either been assisted by this service, or knew someone who had.
“Angel Flight provides critical assistance to people living in rural and regional areas,” said Bernard.
11 August 2011
Congratulations to Boyce clients— Bill & Sue Willis, Ed & Maria Willis and Von Warner of “Bullamon Plains” Thallon, Queensland—who were awarded “Monsanto Cotton Grower of the Year” for 2011 at the recent Australian Cotton Industry Awards held in Narrabri.
10 August 2011
The Australian Taxation Office (ATO) has recently issued a draft ruling that has implications for Capital Gains Tax (CGT) paid by super funds on the death of a person receiving a pension from the fund.
The draft ruling states that when a member of a super fund dies, the pension ceases immediately and the super fund reverts back from pension to accumulation phase and capital gains tax is payable (usually at the rate of 10%).
Boyce Financial Services (BFS) Superannuation Strategist, Elizabeth Timmins says that the media commentary on this draft ruling has been somewhat over-blown.