G'day farmers, have you compiled your tax for 2021/22 financial year? We'd hope you're coming to the end of it as we wrap up another financial year for the Farms Advice Podcast. Today on the show we hear from Jack Hayes from the team of Byfields Business Advisers. This time of year is manic for accountants and usually farmers getting their crops in for the season. Tune into this episode and let us know what you'd like to know for the 2022/23 tax year.
FMD Definition: The Farm Management Deposits (FMD) scheme allows eligible primary producers to set aside pre-tax income from their primary production activities during years of high income. The income can then be drawn in future years as needed. Primary producers can include FMDs as part of their risk-management strategy.
Links:
Byfields Business Advisers
FarmsAdvice.com.au
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