No 400 - New Year's Eve Club Notes

The “Club Notes” for Tuesday, the 31st of December, 2024.

By Dwain Duxson - An Ag Enthusiast

A $630,000 business advantage….

This is well worth a read. I was talking to a Farmer who alerted me of this just recently. He bought a Farm for 2 million dollars and gained a depreciation benefit of $630,000. That's $630,000 they can use to offset tax. He said this: "We have just purchased an adjoining property to the main farm, and here are the benefits: - Purchase price - $2 million. - Assessment cost $2200. - Depreciation benefit - $630,000". Many of you would have purchased properties in the past and would not know about this and may have missed the opportunity. You can go back a few years, but I am not sure how many. The company that does these assessments is BMT, they are experts in this field, and for a fee of $2200, in this instance, a $630,000 business advantage is great value. If you buy a Farm, you can claim on things like Dams, Fencing, Water Infrastructure, Yards, Shearing Equip, Fuel Storage, Sheds, etc. BMT say they found an average of $99,729 in depreciation deductions for each client in the first year. Read a bit of an explanation here and an example of a Sheep Farm purchase. Here are a couple of other examples of a Cattle Farm purchase and also a Dairy Farm purchase. Your accountant might not be aware of this and it's well worth investigating. Contact BMT direct or send a reply, and I will give you an email address. Don't leave valuable $$ on the table. We will be back on Friday and Saturday. Reply to [email protected] or 0427 011 900.

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What’s in the paid section today:

Story 2 - No rest - Croppers are in set-up mode…..

Story 3 - People are buying essentials only…..

Number of articles and images - 57 quick reading bits of Ag and Farming essential info. Included are 15 funnies and 8 interesting statements in our just saying section.

Number of Farmer replies - 5 in total, with lots of good pubs exposed.

When you can expect your newsletter over the Christmas/New Year period

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