8 March 2016
The NSW Rural Assistance Authority (RAA) provides assistance to rural producers and small business in regional NSW through programs and loans.
In broad terms the function of the RAA is to administer a wide range of assistance measures to the rural sector to encourage self-reliance and adaptation to change.
16 December 2015
Employers who increase their staff numbers in New South Wales may now be eligible for the Small Business Grant from the New South Wales Office of State Revenue (OSR).
The Small Business Grant is designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business.
14 December 2015
For decades farming families have experienced unfairness in having their farm counted as an asset in their assessment for Youth Allowance. However, from 1 January 2016 the Family Assets Test and the Family Actual Means Test will be removed from the Youth Allowance Personal Test.
An income test will still apply, but all dependent children will be taken into consideration in that assessment, which the Government says will "soften reductions in Youth Allowance" as family income increases.
7 December 2015
In the 2015 – 16 Budget, the Government announced changes in relation to the way in which tax deductions for the necessary use of a motor vehicle will be calculated.
Previously, there have been four methods for calculating work related motor vehicle expenses:
- Cents per kilometre;
- Logbook method;
- The 12 per cent of original value method; and
- One-third of actual expenses incurred.
12 October 2015
Farm succession is a topic of conversation that can be overwhelming and is often put in the ‘too hard basket’. However, ignoring ‘the elephant in the room’ creates a lack of confidence and uncertainty for all involved. Without a succession plan in effect – for both planned and unplanned events – how will family farm businesses transition successfully?
What is succession planning?
“Many people have a mis-conception of what succession and transition is all about,” says Jonathan Forrest, a Director of Boyce Cooma.