Primary Producers

We often help primary production clients with business Planning, structuring advice and succession Planning. We have a number of agricultural clients producing a variety of products including sheep and wheat, viticulture, aquaculture, orchards and market gardens.

The income of our primary producing clients can fluctuate dramatically for a number of reasons.

The objective is to work with you to smooth income and manage the really high and very low Tax brackets using things such as:

  • Primary production income averaging
  • Farm Management Deposits (FMD's)
  • Timing of income
  • Timing of expenses and prepayments
  • Timing of the purchase of new plant and equipment
  • Superannuation Contributions

In the longer term, we provide services such as succession Planning. Succession Planning can be very difficult for primary producers for a number of reasons and there is no hard and fast solution.

We encourage primary producers to start the succession Planning discussion early. Good succession Planning can take time. There can be many (hard) discussions to have, and views can change over the course of time. Successful succession Planning is often done as a 3-way partnership - you, your lawyer and us, your accountant.

We encourage lots of talking between you and any potential beneficiaries - as farming is not for everyone. It is important to be certain of what you want to achieve from your succession Planning and then we can determine how to best split or allocate the assets.

If you would like to find out more about Tax or succession Planning, for primary producers, please don't hesitate to contact Leanne Peacock, or your Hall Chadwick advisor. We'd be very happy to talk through any issues you have.