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 have a range of solutions available to assist you with your preparation for tax time.
Prepay and reap the rewards
Make the most of a good season with our Rural Products Prepayment Program1, which allows you to prepay your rural products purchases.
You’ll receive a reward of 5.5 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 and Agency 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 the prepayment,” he said.
“Typically, a client would make a prepayment before 30 June 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.”
Open a Farm Management Deposit
A Farm Management Deposit2 is designed exclusively for eligible^ primary producers, allowing you to put aside funds in good years, to use when you need it in tougher times. It can help to even out your cash flow and reduce financial stress.
You can deposit as little as $5,000, and investments can total up to $800,000 across all FMD accounts held.
Deposits are tax-deductible in the year they are made, reducing your taxable income during high-earning years.
Terms, conditions and eligibility criteria apply. We recommend seeking individual financial advice before taking this product.
Stock up now
Our annual End of Financial Year catalogue is out now. It is packed with great deals on a range of products, available from 25 May to 30 June, or while stocks last.
From crop protection to animal health and general merchandise, you will find great offers designed to give you maximum bang for your buck. There are also some great bonus offers so get in quick and grab a bargain.
View our catalogue now, or gcontact your local branch for further details.
Consider livestock funding
Elders Finance offers flexible livestock funding solutions3 to help support your enterprise no matter what stage of the production cycle you are at.
You may be restocking after seasonal improvement, or purchasing livestock for backgrounding purposes, funding is available for commercial sheep and beef cattle purchases. Up to 100 per cent of the invoice value and associated costs may be financed.
You retain ownership of the livestock, with flexible repayment options available to suit different production cycles and cash flow requirements. There are no establishment or account keeping fees, and no penalties for early repayment.
If you’re looking to expand or strengthen your breeding programs, we also offer Stud Stock Funding solutions.
When you require working capital to fund the expenses associated with finishing your livestock, we offer finishing finance. LivestockPlus is secured against commercial sheep and/or cattle, owned outright by you and consigned to Elders for sale. With a maximum term of four months per advance, repayment of principal and interest will automatically occur from the proceeds of sale.
Explore our livestock funding options
Grow your business
EOFY is an ideal time to consider investing in infrastructure and equipment that will achieve future farm efficiencies and improve productivity.
Elders Finance offers asset and equipment finance4 for everything from air-seeders to utes.
Talk to one of our brokers about your goals and finances. They’ll search our 30-strong lender network to help you find a suitable loan option.
Enquire about asset and equipment finance.
Disclaimers:
1The Rural Products Prepayment Program is provided by Elders Rural Services Australia Limited (ABN 72 004 045 121) and is intended for commercial clients only. For full Terms and Conditions (including conditions around use and reward rate) contact your local Elders branch or visit eldersfinance.com.au/agribusiness/prepay-program/prepay-program-terms-conditions/ for more details. Exclusions apply. Elders has obtained a ruling from the ATO (Product Ruling PR 2026/4) stating that, subject to the Product Ruling's conditions, a prepayment under this Program applied solely to rural products and services is tax deductible in the year that it was paid. This information is general in nature and not tax, legal or financial advice. Please seek independent advice from your lawyer or accountant before making any decisions or claiming a deduction.
2Elders Rural Services Australia Limited ABN 72 004 045 121 Australian Financial Services Licence 237757 (Elders) has entered an arrangement to distribute banking products issued by Auswide Bank, a division of MyState Bank Limited ABN 89 067 729 195 Australian Financial Services Licence 240896, a wholly owned subsidiary of MyState Limited ABN 26 133 623 962. This information is general in nature and does not consider your personal objectives, financial situation or needs. Before deciding whether to apply for a financial product, you should seek professional advice and consider the relevant Terms and Conditions which is available on the Elders Finance website and read the target market determination. Elders may receive a commission from Auswide Bank if you successfully apply for a financial product through Elders. For more information on Elders’ relationship with Auswide Bank, please read the Elders Financial Services Guide.
^ A primary producer is an individual who:
- carries on a primary production business in Australia, (eg. dairy farm, trout hatchery, olive grove, pecan plantation, orchardist, wheat farm, beef, cattle lot etc) but not as a trustee of a trust;
- is a partner in a partnership that carries on a primary production business in Australia;
- is a beneficiary of a trust that carries on a primary production business in Australia who is currently entitled to a share of the income of the trust estate.
A primary production business engages in production in the farming, fishing and forestry sectors, including plant or animal cultivation, fishing or pearling, or tree farming or felling. Please contact the Australian Tax Office if you are unsure whether you qualify as a primary producer.
3The Commercial Livestock Funding product is provided by Elders Rural Services Australia Limited (ABN 72 004 045 121) and is intended for commercial clients only. For full Terms and Conditions (including repayment terms and interest rates) contact your local branch or visit their website. This information is general in nature and does not constitute financial advice.
4Brokerage services provided by Elders Home Loans Pty Limited (ABN 22 118 064 654; Australian Credit Licence 384408) or its authorised credit representatives; or by Elders Asset Finance Pty Limited (ABN 39 670 506 617; Credit Representative Number 558452) as authorised credit representative of LMG Broker Services Pty Limited (Australian Credit Licence 517192). Lending criteria apply. Not all products of all lenders may be offered.