Market Update & Budget Reform: What Does It Mean for Farming Families?

Murray Nankivell recently welcomed farming clients to the Bridgeport Hotel in Murray Bridge for a practical update on the economic outlook, interest rates and proposed Federal Budget reforms affecting primary producers.

More than 20 people attended the session, with positive feedback from those who joined us for the afternoon.

Interest rates and the economic outlook

Fabian Monaghan, Director – Interest Rate Solutions at Westpac, provided an update on interest rates, the broader economy and some of the global influences continuing to shape the outlook.

The presentation gave attendees useful context around current economic conditions and the factors likely to influence interest rates and business decisions in the months ahead.

Budget reform and primary producers

Murray Nankivell Associate Director William Altmann and Senior Accountant Meg Rowland then explored several proposed reforms with particular relevance to farming families and primary producers.

Their presentation covered:

• Capital Gains Tax and the importance of valuations when considering farm assets
• proposed changes to negative gearing
• the proposed 30% minimum tax applying to discretionary trusts
• the potential implications of these changes for business, investment and longer-term planning

The session concluded with questions and discussion, giving attendees the opportunity to explore how some of the proposed changes may apply to their own circumstances.

Thank you to everyone who joined us in Murray Bridge, and to Fabian, William and Meg for sharing their insights.