08 Specialist
Farm and primary production accounting
Accounting built around the seasons: averaging, farm management deposits and livestock accounts.
Farm income does not arrive in twelve even pieces, and the tax rules recognise that. We handle primary production averaging, farm management deposits and their timing, livestock trading accounts and the elections that go with them, water and fodder infrastructure deductions, and the drought and disaster measures as they apply. We also do the succession conversations, because on the Downs the farm and the family finances are usually the same conversation.
What is included
- Primary production averaging applied and explained
- Farm management deposit timing planned around the season
- Livestock trading account and valuation elections
- Water, fencing and fodder storage deductions claimed correctly
- Succession and family structure discussion when you want it
$1,450 to $3,800
an annual fee set by the number of entities, whether there is a trust or partnership structure, and how many livestock and cropping enterprises run under it
Talk to us about the farmor call (07) 5550 0080
02How it runs
Four steps, in this order
Typical turnaround: Annual, with a mid-season review. You are told which step we are on, without having to ask.
- 01 Sit down at the property or the office, whichever suits
- 02 Set up the livestock and averaging position properly
- 03 Plan farm management deposits around the expected season
- 04 Review after harvest and again before 30 June
03Asked often
Before you ring
If your question is not here, it is probably on the FAQ page, and if it is not there either, ring and ask.
How does primary production averaging actually help me?
It smooths your tax rate across five years, so a good year is not taxed as though every year will be that good. After a poor season it usually produces an averaging offset rather than a bill.
When should I put money into a farm management deposit?
In the year the income lands and the rate is high, then draw it in a leaner year. The timing matters more than the amount, and it is worth a phone call before the deposit rather than after.
Do you come out to the property?
Yes, anywhere on the Downs. It is easier to talk about a livestock account standing in the yards than across a desk in town.
What people usually pair this with
07The first meeting
Start with the free meeting
Forty-five minutes, no charge, no obligation afterwards. Long enough for us to tell you what we would charge and whether we are the right fit. In the office, at your property or on the phone.
What to bring
- Last year's return and the notice of assessment
- Access to whatever bookkeeping file you already have
- Bank statements for any account the business uses
- A rough idea of what the business does and where it is going
- Anything you have been putting off opening
Or skip the form
(07) 5550 0080- Mon to Thu 8:30am to 5:00pm
- Fri 8:30am to 4:30pm
- Sat Closed, except by appointment from July to October
- Sun Closed
Leave a message and we return it the next business morning. Fixed-fee clients can book an evening or early-morning call through the client portal, which suits people who are on a job site or in a paddock during office hours.
Thanks, that is everything we need
Demonstration only. Nothing was sent and nothing was stored. On a live site this would reach hello@tabletopaccounting.com.au and a booking would be confirmed by phone.