Neil Smith

From a reader... Dear Sir Under current legislation, all trusts (not just discretionary trusts) are taxed on accumulated income to which no beneficiary is presently entitled. Such income tax is assessed to the trustee under section 99A of the Income Tax Assessment Act, 1936

@LeonRyan4 Nothing good in the budget Leon. Sad to see a govt destroying businesses and confidence in everything they touch.

Catching up on the budget detail post seeding. The small business CGT concessions haven’t changed to keep up to date with inflation. I don’t know of any genuine farm businesses where this concession would be helpful & trusts have an expiry so at some point there’ll be pain

North-west Queensland farmers are still reeling after devastating floods wiped out tens of thousands of cattle. The Queensland Government stepped up and proposed a $94 million jointly funded package to help these hard-working families restock their herds and get back on their

Sign the petition: SAY NO TO LABOR'S TAX GRAB rickwilson.com.au/stop_labors_ta…

@Tedthekelpie @hasselljpb @NationalFarmers I don't get it. They want us to take a risk in business. Tax us to set it up with stamp duty, tax along the way PAYG, income tax etc, then when we get out CGT up to 47%. Why would you do anything? We need Tommy Robinson.

@hasselljpb @NationalFarmers If the state wants an equity stake in my business they can take sole of the risk too. An invoice for 30% of my interest bill?

@NationalFarmers we need to get a better understanding of this if it’s all true.

The chart below shows the effective capital gains tax rate facing a business owner who invests $250,000 upfront, holds for 10 years, and then exits at different valuations. The result is striking: under Labor’s proposed CGT changes, Australian founders and investors would face an effective tax rate of up to 46% — roughly double the burden faced in most comparable markets, including the US, UK, Canada, Germany, Japan and New Zealand. And this is not just a founder problem. The same logic applies across all small, medium and large businesses, and any asset, including listed equities, property, private equity, venture capital and crypto. If these changes proceed, Australia will become one of the least attractive places in the developed world to build, invest, take risk and realise gains. The one major asset still sitting outside this tax net is the owner-occupied home, which remains CGT-exempt. That creates a powerful distortion. If investment properties, businesses, shares, commercial property and other assets are hit with materially higher effective CGT rates, capital will rationally look for shelter in the family home. The likely result: less capital for startups and productive enterprise, lower productivity, more pressure on rents as investors retreat from housing, higher inflation and interest rates, weaker demand for risk assets, and even more money being recycled into owner-occupied property — the last great tax haven in Australia. In short: this is not just a profound increase in the tax burden, with zero consultation in the name of giving imprudent politicians more money to waste. It is a major repricing of risk-taking in Australia. It is not reform: it is highly regressive, as it seeks to punish entrepreneurial success, which is the key driver of long-term jobs, incomes, growth and prosperity. It does not boost productivity: it destroys it by actively discouraging innovation and business creation. It will not lower the cost of living: it will lift it by boosting rents and making us much more inefficient. It will not reduce interest rates: alongside rampant and reckless government spending and record migration, it will pressure the RBA to raise our mortgage repayments. What is perhaps most shocking is that only 12 months ago this government was elected on the basis promising to never make these changes...

Excuse my shitous video but this captures the essence I’m in the sprayer ahead of the autonomous sowing tractor. 2 machines operating with one operator. It’s great when the pieces fit together. Had a successful sowing with Ornata last paddock.

@Matthill2417 It is ok Matt. The govt buys our land. Then gets it all back in capital gains tax and we get fairy dust.

I’ve been banging on about ACCU’s for a while now. Well, this is what it looks like. Labor’s net zero will require 18M Ha of farm land (equivalent to every paddock in WA. Every single one.) to be converted to trees. With a 100yr caveat against clearing.

So true

WeedHOG: Royalties only! The aim is simply to make this unique tool available where other options for harvest weed seed control don't fit. So a "royalties only" arrangement is available to an ag engineering business willing to do a small amount of further R and D, basically just fitment of the proven unit to more harvester makes. WeedHOG is different: the method sits alone in its field, having competitive advantages that are hard to match. WeedHOG's totally unique REVERSED INERTIA mode of action (simply, the "bug on the windscreen effect") is an exciting advance in seed mill design. WeedHOG offers game changing advances in the field of harvest Weed Seed Control worldwide. WeedHOG has the Big 4++++'s. +1. Innovative multiple action seed kill. +2. Lowest power draw of any mill. +3. Excellent ability in damp conditions. +4. Low dust output. They're all a Big + WeedHOG's simplicity makes HWSC possible for all combines, even the smallest machines and in damp harvest conditions. This is indeed unique. Much has been achieved by a small farm based team in Western Australia using only private resources. So now it's an opportunity for a business with capacity and vision, who's focus is Ag Engineering. Big or smaller, no matter where located. The ROYALTIES ONLY LICENSE ARRANGEMENT MINIMISES ANY DOWNSIDE! Strong multi region IP protection is in place. All working drawings are included. The maths look very good. DM here for more.

RT @nuffieldaust: Seven days left. Applications close 8 May. nuffieldaustralia.com.au

The mouse population in parts of wa is out of hand @APVMA seems to not have an interest in doing anything about an emergency permit for us. All knowing full well that 25 g active mouse bait is not effective. The numbers we have are the worst I’ve seen.

RT @NoleftT:

Another wonderful record for Albanese

@michaelsnape @HallRaelene You forget that the likes of Perth might have a million vehicles. They all get topped up 50l. That is your strategic reserve gone. 50 million litres. Herd mentality.

"stockpiling fuel" is the biggest furphy and admission the govt has no idea Most people don't have 44 gallon drums laying around their house You can fill your car - that's it.

For all the farmers buying fuel and fertiliser this year @HoolyMcg

This is a monumental crisis for Australian agriculture, and I urge politicians and authorities to act urgently. No more round-tables, take control now. You are elected by the Australians to make hard decisions. This is it, now is your time. Please read and repost Brad Jones in

@Voz_Dennis I will bet ag in WA will get zero of this urea. If it is shipped by sea freight, 2 lots of Aust stevedoring and fees. 1 lot to export it to Indonesia.

Domestic fert production: graincentral.com/news/wa-plant-…

This is probably a more easier to view chart on the spread between diesel and crude oil. We are paying a much higher 'premium' than we ever have for fuel in Australia.

@HoolyMcg He doesn't pay for anything. Unfortunately we do!

Correct. What an absolute flog ! Ban him from any stadium for 2 years and fine him $5k !