The end of the financial year (EOFY) is almost upon us, but with a little bit of planning, it doesn’t have to be taxing.
Elders has a range of solutions available to assist you with your preparation for tax time.
Rural Products Prepayment Program
Make the most of a good season with our Rural Products Prepayment Program, which allows you to prepay your farm and rural products purchases.
You’ll receive a reward of 5.0 per cent per annum on the unused amount of the prepayment, calculated daily and paid monthly. You could even be eligible for tax deductions in this financial year*.
Elders General Manager Financial Services, Nick Clark, said the program offers a range of benefits.
“The number one benefit is that producers can make a payment, but they don’t have to decide on the specific goods at this stage, they can do that throughout the year as they use that prepayment,” he said.
“Typically, a client would make a prepayment before June 30 and receive an invoice for the bulk amount, then decide in the next financial year what they’d like to purchase.
“On the advice of their individual accountant, that invoice may result in a tax deduction in this financial year.”
Special offer: Clients who open a new prepayment account or prepay into their existing account before 30 June 2024 will also receive $100 Elders store credit, and go in the draw to win the Ultimate Grand Final Weekend. The winner will have the chance to pick either two tickets to the 2024 AFL or NRL Grand Final, with flights and accommodation included in the prize. Terms and conditions apply. For full details view the Prepay to Win webpage or speak to your local Elders branch.
EOFY Catalogue
Our annual EOFY catalogue, available from 6 May, will be packed with great deals on rural products.
From crop protection to animal health or general merchandise, you will find great offers designed to give you maximum bang for your buck.
Bookmark the catalogue page, or get in touch with your local branch for great deals all year round.
Livestock Funding
Be prepared for stocking opportunities which may arise.
We can offer clients 100 per cent funding for commercial sheep and cattle, and also have an option for purchasing stud stock.
You could also consider Elders' LivestockPlus, which provides finance of up to $100,000. With a maximum term of four months per advance, Livestock Plus is ideal when you require working capital to fund the expenses associated with finishing your livestock. It is secured against commercial sheep and/or cattle, owned outright by you and consigned to Elders for sale.
Asset Finance
Grow your business with Elders Commercial Finance.
EOFY is an ideal time to consider investing in infrastructure that will achieve farm efficiencies and improve productivity.
Our brokers will talk to you about your goals and finance, then search our 30-lender strong network to help you find a suitable loan option.
Enquire today about Elders commercial and equipment finance options.
Easy access to statements
It is easy to coordinate the supply of your statements to your accountant through Elders Online.
This client portal provides quick and easy access to all your transaction details. You can view, print or save all your historical transaction details. You’re also able to reprint invoices, download a transaction file which can be loaded into your accounting software and view all of your payments due and coming due.
*Elders has obtained a ruling from the ATO that the prepayment is tax deductible in the year that it was paid under certain conditions. This material has been prepared for informational purposes only, and you should consult your own tax, legal and accounting advisers before engaging in any transaction. You should obtain tax advice before claiming a tax deduction.