Getting started

As with any new business, starting a small farming business can be a daunting task. The fact that there are different taxation rules that apply specifically to small businesses in the agricultural sector can complicate matters even more.

The Australian Tax Office (ATO) website contains a plethora of information relating to hobby farm business structures, possible tax deductions and options for claiming losses, but we have condensed the most important information in this article.

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 So, you’re thinking about throwing in the towel at your city gig and moving to the country for some peace, quiet and fresh air. A shift  in gear that gives you  time to start work on that novel you’ve always wanted to write, raise some ducks and a cow or two and grow  your own veggies.

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Article as seen in the November edition of Money magazine by Susan Hely.

Questions: What is the smartest way forward financially for us given that Clare will not be working for some time? Should we invest in shares, buy an investment property or focus on paying down the mortgage? What is the best way to buy land, build a house and set up a hobby farm?

Names: Clare and Michael

Status: Married and expecting a baby.

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Anton and Fiona Bombara are seasoned organic growers.
Their organic market garden business in the Peel region of Western Australia has flourished from a part-time enterprise growing only watermelon, tomatoes and
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Debbie has put her product development skills to good use to diversify the range of Swan Valley Honey products. She has developed new recipes, confectionery and dressings that are taste tested at shows and the feedback used to fine tune the next new addition to the range.
Products
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Debbie Starr is a talented and experienced chef and also the luminary behind Swan Valley Honey.
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 Leasing land can be a great way to get into agriculture or expand your existing business without the high capital cost of purchasing land. For the    landowner, it can also provide a steady income from land they are not currently farming.

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 Nobody should buy a small farm on a whim. Whatever your reasons for buying a small farm – whether it’s a going to be your retreat, weekender, hobby  farm, conservation or self-sufficiency block, or maybe an investment or a working farm – you shouldn’t make any decisions before considering these  important purchasing tips.

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 “What can I do with my small farm?” is a question I’m regularly asked. My response is usually: Well, what would you like to do and what will your farm  allow you to do? If you are thinking of buying a small farm, you should always have a vision of how you would like your prospective farm to look.

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New Forum Topics

Topic Replies Last post Forum
5734 Just bought our first block of land, hello!
by too-many-boys-and-me on Mon, 06/17/2019 - 15:20
0
by too-many-boys-and-me
Mon, 06/17/2019 - 15:21
New Members
5522 Total newbies on 8 acres Vic
by shelle on Thu, 04/11/2019 - 10:56
4
by Albertgotdonkey
Thu, 06/13/2019 - 12:08
New Members
5733 serrated tussock
by Robdog on Sun, 06/09/2019 - 13:33
2
by rolly @ fi
Thu, 06/13/2019 - 10:11
Weeds & pests
5503 Agistment gone bad!
by frontess on Mon, 04/01/2019 - 21:35
5
by sallyero62
Tue, 06/11/2019 - 18:16
General Forum
2644 Cattle branding - fire v electric
by Comraich on Mon, 11/02/2015 - 14:33
7
by sallyero62
Tue, 06/11/2019 - 15:13
Farming Help
3316 Atherton Tablelands Queensland
by Benfairley on Mon, 01/22/2018 - 17:08
3
by sallyero62
Tue, 06/11/2019 - 15:05
New Members
5684 What do I do with 20 acres of grapes?
by Phil on Thu, 05/23/2019 - 19:20
3
by sallyero62
Tue, 06/11/2019 - 14:51
New Members
3130 How to farm with sheep....
by mandys76 on Tue, 12/20/2016 - 14:02
3
by sallyero62
Tue, 06/11/2019 - 14:32
New Members
5689 Vaccination of weaner cattle
by FDE on Tue, 05/28/2019 - 06:12
2
by FDE
Fri, 05/31/2019 - 13:13
Farming Help
5611 lantana and land clearing
by samsmith on Tue, 05/07/2019 - 17:21
3
by samsmith
Tue, 05/28/2019 - 20:08
Farming Help
3148 Wiltipol Sheep and Boran Cattle
by chisel on Sun, 01/22/2017 - 19:07
6
by Brownscows
Sun, 05/26/2019 - 07:19
New Members
5520 Assignment help
by AJD on Mon, 04/08/2019 - 13:22
1
by Phil
Thu, 05/23/2019 - 19:37
General Forum
5544 Petrol supply carburettor Massey Ferguson 35 Petrol
by Scarydingo on Sun, 04/28/2019 - 16:09
1
by Phil
Thu, 05/23/2019 - 19:10
Machinery & products
5670 New member - Brisbane - looking for agistment for cattle
by [email protected] on Fri, 05/10/2019 - 18:22
1
by admin
Wed, 05/15/2019 - 14:39
New Members
5466 How to Become Classified as A Primary Producer/Alpacas
by Char on Fri, 02/01/2019 - 11:04
2
by AmarooFarm
Tue, 05/14/2019 - 10:45
Farm planning
5673 Goat Worming
by Brettgarland on Sat, 05/11/2019 - 17:06
1
by barb
Mon, 05/13/2019 - 17:05
Farming Help
5672 Barley Straw
by Griswold on Fri, 05/10/2019 - 20:34
0
by Griswold
Fri, 05/10/2019 - 20:34
Farm water
5545 Best animals for low maintenance earning on 500 acres - QLD
by fazeraus on Mon, 04/29/2019 - 20:19
1
by admin
Tue, 05/07/2019 - 16:03
Farm planning
5538 New member looking for Dorper lambs in Noth Brisbane area
by Darryl1377 on Sun, 04/21/2019 - 17:40
1
by admin
Mon, 04/29/2019 - 07:54
New Members
5537 Dorper and Johnson grass
by krooges on Sat, 04/20/2019 - 11:44
1
by rolly @ fi
Wed, 04/24/2019 - 13:10
Sheep

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