GRDC Farm Business Update Adelaide 2019
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This page contains update papers presented at the .
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Presented at
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Parents who have invited or allowed their children to participate in the family business have a moral obligation to ensure a succession plan is in place. • Early and honest disclosure of parties’ expectations, reveal if these expectations match reality. • Understanding business structures is a critical part of succession planning. • Succession plan...
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• Select a grain storage option that provides flexibility to meet market requirements. • The only silos suitable for fumigation are gas-tight (meeting AS2628-2010), pressure tested. • Hygiene and monitoring are keys to maintaining grain quality in storage. • Aeration is an effective tool worthy of consideration – best paired with an automated cont...
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• Know the law – review and implement employment documents and processes in line with Fair Work legislation • Keep updated – amend these documents and processes following business or legislative changes • Invest in training managers • Remunerate staff fairly • Embrace workforce planning...
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• In majority of cases, on-farm storage requires multiple financial benefits to cover the costs. • The most economic form of storage will be the one that suits your system, the grain being stored and the length of time it’s stored. • Permanent on-farm storage is a 25+ year investment – it’s worth taking the time to do the numbers, consider the op...
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• Tax planning is more than having a one year at a time strategy, it requires a long-term strategic plan. • To implement the plan, you need the correct tools and strategies and you need to know how they can work in your business. • You need to work closely with your accountant who should be proactive in their advice. • Laws change constantly. The r...
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