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We are delighted to present our first Media Video release. You will be introduced to the Directors at  Robinson Sewell Partners - Brad Sewell and ...

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Ian Robinson        0448 697 674

Brad Sewell          0427 390 016

Michael Stout       0427 692 418 

Andrew Toole       0437 889 036

Deb Purvis           0409 438 115

David Robertson  0407 697 797

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Appreciate a Good Depreciate Part II

18 Oct 2016 5:22 PM - By Michael Stout

If you happened to miss Part 1, please refer to Farm Depreciation - The Silver Bullet

Easiest Days Work You Will Ever Do That Can Save You $30k - $1m

Robinson Sewell Depreciation (RSD) specializes in completing ATO compliant farm depreciation reports, capturing all the infrastructure assets that are acquired with the land when you purchase a farm.

Are you currently paying tax?

Have you purchased a farm in the last 5-10 years?

Would you like to reduce the amount of tax that you are paying to the ATO?


Michael Stout (RSD) and David Burcham (DB Ag) completing an inspection of David's Binya property

Case Study 1

Tim and Marylynne were referred to RSD by their accountant. They run a mixed farming enterprise of winter crops and Angus cattle near Bathurst. The previous 5-6 years had been strong and profitable resulting in all previous tax losses being used.  Keen to expand, the couple purchased a farm in the Forbes-Grenfell area for $2.2m.

RSD were asked to complete an ATO compliant tax depreciation report on all assets presented with the farm (machinery sheds, hay sheds, shearing shed, stock yards, silos fencing etc). Total depreciation claimable over the effective life of the assets will be $875,000.  

$498,00 was claimable in the first year

 

Case Study 2

Craig & Sonya were referred to RSD by their neighbor who had previously completed a depreciation schedule on a recent farm acquisition. In this case Craig & Sonya purchased the farm in May of this year for $673,000 in the Riverina. The new farm had minimal fencing and one old flat bottom Lysaught silo. As with many people, they did not think that it would be worthwhile having a report completed but contacted Michael just to make sure. 

Michael assured Craig & Sonya that it would be so they arranged for RSD to complete a farm depreciation report. Total depreciation claimable over the effective life of the assets will be $77,800.  

$68,500 was claimable in the first year.