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.

You crave a quieter existence and the joys of hobby farming, but you want to do it without channelling Chevy Chase’s character from Funny Farm, whose attempts to embrace rural life are wrought with one disaster after another.

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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
5908 Adding cameras to tracotrs
by IHeartRobots on Fri, 12/06/2019 - 08:20
0
by IHeartRobots
Fri, 12/06/2019 - 08:20
Farm software
5757 Nigerian Dwarf Goats
by gem7680 on Wed, 07/03/2019 - 17:28
3
by First Fleet
Wed, 12/04/2019 - 11:39
Goats
5905 GST on agistment lease
by Louise2507 on Mon, 12/02/2019 - 09:59
2
by Louise2507
Mon, 12/02/2019 - 12:49
General Forum
5466 How to Become Classified as A Primary Producer/Alpacas
by Char on Fri, 02/01/2019 - 11:04
3
by thomen
Mon, 12/02/2019 - 10:40
Farm planning
5453 Pasture Improvement Costs
by @Nick on Mon, 01/14/2019 - 19:44
4
by admin
Fri, 11/29/2019 - 17:28
Farming Help
5903 Setting up Cattle scales load bars
by bigdave06 on Wed, 11/27/2019 - 13:43
0
by bigdave06
Wed, 11/27/2019 - 13:43
General Forum
5894 Soil aeration
by Albertgotdonkey on Fri, 11/08/2019 - 08:16
4
by Albertgotdonkey
Tue, 11/19/2019 - 17:33
General Forum
3032 Selling meat off farm that is slaughtered by a registered abattoir
by Dominiquet on Sun, 08/14/2016 - 17:38
5
by admin
Mon, 11/18/2019 - 11:13
Farming Help
5855 sheep and goats
by mick650 on Mon, 09/09/2019 - 20:06
3
by ploist125
Thu, 11/14/2019 - 06:11
General Forum
5891 Growing/cutting hay
by megssss on Wed, 11/06/2019 - 11:14
3
by admin
Wed, 11/13/2019 - 10:58
Farming Help
699 How do you use software to help you run your farm ?
by clement_911 on Sat, 02/25/2012 - 19:20
8
by kakhankaramm
Fri, 11/08/2019 - 18:29
General Forum
5889 Please help with choice
by PeterHigg on Thu, 10/31/2019 - 22:59
3
by admin
Fri, 11/08/2019 - 12:46
Farm planning
5887 Sheep and Cattle Per Acre
by Jack Lambo on Tue, 10/29/2019 - 08:17
1
by admin
Thu, 10/31/2019 - 11:13
Pastures
3849 Paralysis Tick Prevention - sheep/lamb
by BecS on Sat, 09/22/2018 - 07:00
3
by AuroraDaniels
Wed, 10/23/2019 - 18:04
General Forum
5870 Do lambs need to be treated prior to Consumption?
by Bushwick on Sun, 10/06/2019 - 22:15
4
by admin
Mon, 10/21/2019 - 11:17
Sheep
2899 Chamberlain Countryman 354 Parking Brake
by countryman on Sat, 05/07/2016 - 12:33
1
by Peter Holmes
Sat, 10/19/2019 - 10:28
Farming Help
3059 Tractor implements... Advice please.
by Mal on Sat, 09/10/2016 - 11:08
2
by pasture.improv…
Fri, 10/11/2019 - 11:10
Farming Help
5869 Goat founder, please help.
by annef202 on Sun, 10/06/2019 - 12:32
2
by admin
Fri, 10/11/2019 - 11:09
Goats
5832 Grass / Reed identification
by steventh on Fri, 08/09/2019 - 08:22
3
by pasture.improv…
Fri, 10/11/2019 - 11:03
Weeds & Pests
3085 Order of operations for pasture improvement
by patdwyer on Wed, 09/28/2016 - 13:51
3
by pasture.improv…
Fri, 10/11/2019 - 11:01
Farming Help

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