Because the farming industry is so unique in its reliance on living produce, farm accounting and farm tax places unique and often complex demands on farmers compared to other businesses. A specialist farm accountant understands these industry intricacies and knows how to maximise management of your farming operation’s finances even in light of farming’s many unpredictable and uncontrollable factors.
In the agriculture industry your time is precious, and you need to spend it managing your farm, not managing your accounts. UHY Haines Norton’s dedicated Farm Accounting team, headed by Director and Rural Accountant Mark Foster, understands both the practical and financial aspects associated with farming accounting and farm taxation. We know from personal experience that farming isn’t just a job but a way of life. We take the time to understand each client’s situation and apply our agriculture accounting expertise to best meet each clients’ rural tax and rural industry accounting needs.
Areas of Expertise
- Farm tax accounting and farm tax planning
- Tax deductible farm expenses
- Year-end tax returns
- Livestock valuations – Herd Valuation Scheme and National Standard Cost Scheme
- Income spreading tools such as deferred fertiliser, income equalisation and farm consumables accrual rules
- Seasonal planning
- Farm ownership structures
- Estate/succession planning
- Farm valuations
- Farm GST
- Farm income tax
- Dairy farm accounting and dairy farming tax
- Farm accounting management
- Monthly account management to help meet bank lending criteria
- Farm budgeting and forecasting tools
- Advice on Economic Farm Surplus performance metric
- Up-to-date advice on rule and legislation changes
Whether your business is a small lifestyle block or a large farming operation, we are here to help.
UHY Haines Norton Director and Farming Accountant Mark Foster is a specialist in all aspects of accounting, taxation and business advice, with a particular focus on rural accounting. Coming from a farming background, Mark runs his own farming operation part-time and has a personal interest in all business developments relating to the rural sector.
Mark Foster – Director, Farming Accountant
t: +64 9 412-9853