Drought Infrastructure Grant

Drought Infrastructure Grant

Drought Infrastructure Grant

A grant of up to $5,000 is available per farm business to assist farmers to make on farm infrastructure improvements to help with the management of drought or enhance the longer-term viability of the farm. Eligible businesses will be required to provide dollar for dollar co-contribution.

Examples of Eligible Improvements Include

  • Construction or upgrade of stock containment areas i.e. fencing/gates.
  • Reticulated water systems using pumps, piping, tanks and troughs for livestock.
  • Irrigation system upgrades.
  • Permanent repairs to fixed infrastructure i.e. irrigation pumps, repairs to piping, replace troughs, upgrade tanks.
  • Improved water infrastructure for stock management i.e. consolidating/enlarging farm dams.
  • Farm development to improve drought management efficiencies to farm production systems i.e. soil moisture monitoring, weather stations, telemetry sensor equipment.
  • Grain and fodder storage i.e. silos, silage bunkers, hay sheds.
  • Internal re-fencing to better match property layout with land capacity.
  • Fencing for the exclusion of wildlife to protect and manage crops and pastures.
  • Addition of shelter belts for shade and associated fencing.
  • Upgrading of areas to deliver to deliver better productivity and profitability i.e. laneway upgrades.
  • Feeding system upgrades i.e. feed pads or feed troughs.
  • Adoption of precision farming techniques i.e. auto-steer tramlining, yield mapping and weed-seeker technology.

To be Eligible you are Required to

  • Own, share or lease a farm business located in the following shires (Wellington, East Gippsland, Swan Hill, Gannawarra, Loddon, Campaspe, Greater Bendigo, Greater Shepparton, Moira, Strathbogie, Benalla, Wangaratta, Wodonga, Indigo, Alpine, Towong, Mildura, Hindmarsh, Yarriambiack, Buloke, Horsham or Northern Grampians).
  • Be registered as a primary producer with the ATO and have an ABN and be registered for GST.
  • Have a right or interest in the land for the purpose of primary production.
  • Contribute more than 51% of his/her labour to the farming enterprise.
  • Derive 51% of gross annual income from the farm business OR made a minimum farm related capital investment of $50,000 (excluding land) in the farm business.
  • As a guide farm turnover would exceed $50,000 per year under normal business conditions.

Please contact us if you would like further information or for us to complete an application form on your behalf. Please keep in mind this grant will close once all funding has been allocated.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

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If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

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Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Is a Self-Managed Super Fund for Me?

Is a Self-Managed Super Fund for Me?

Is a Self-Managed Super Fund for Me?

As the name suggests, a Self-Managed Super Fund (SMSF) is a superannuation fund that you control and manage yourself.

Why a Self-Managed Super Fund?

The Ability to Manage Your Own Investments

Typically, with an industry fund, you select a fund and tick boxes to choose the right risk level for you (e.g. Cash, Balanced or Growth) and possibly select a level of life insurance cover and then get lumped into various set investment portfolios with thousands of other individuals who ticked the same boxes as you.

With Self-Managed Super, you have greater control over what your funds are invested in. If you want to invest heavily in shares in the banking sector, for example, you can.

Of course, if you didn’t feel comfortable managing ALL of your investments, you could also have your choice of financial adviser manage some of the investments for you.

Real Property Purchase

The most appealing reason for some people will be the ability to use superannuation funds to purchase real property. This could be your business’ trading address, for example, so instead of paying rent to a third party landlord, you pay it to yourself – into your super fund.

As with all investments within the super system, strict guidelines apply but, after considering your personal circumstances, significant outcomes in your favour can be gained using this investment method.

Access to a Broader Range of Investments

You can not only invest in shares, term deposits, managed funds and property, you can also hold alternative assets, such as gold bullion.

Of course, as we are dealing with funds that are to be used for the sole purpose of funding your retirement, strict criteria apply.

To find out whether a Self-Managed Super Fund (SMSF) is the right choice for you, contact one of our Superannuation Specialists on 03 5833 3000.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Plus 1 Group logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

CPA Logo
Professional Standards Legislation logo
Platinum Xero Partner
MYOB logo
Quickbooks logo

Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Single Touch Payroll Update

Single Touch Payroll Update

Single Touch Payroll Update

Single Touch Payroll (STP) was introduced on 1st July 2018 for all businesses with 20 or more staff (substantial employers).

The Bill to extend the Single Touch Payroll (STP) reporting requirements to all employers, regardless of the number of employees has now passed the Senate and will be Law.

Smaller organisations with less than 20 employees are now required to comply with STP as of 1 July 2019.

What you need to know

STP will require you to report your payroll transaction data to the ATO each time your employees are paid.

The payroll or reporting system must be STP Compliant, so that the below details can be reported to the ATO every pay run.

  • Each employee’s name and tax file number (TFN)
  • Gross amount paid
  • Tax withheld on the gross
  • Ordinary time earnings for the period, and
  • Any superannuation guarantee obligations.

Concessions

Further concessions apply for employers with four employees or less (micro employers). These employers will be allowed to rely on a registered tax or BAS agent to report quarterly for the first two years, rather than each payroll period.

The ATO recognises that some smaller clients may not have software systems currently in place. Therefore the ATO have granted a 3 month transition period until the 30th September 2019, to allow small employers (less than 20 employees) to find the right solution for their business.

The ATO have compiled a list of cost effective STP Solutions for micro employers and can be found here.

What to do now

If your software is already automated that can provide the above listed information every per pay cycle, all you need to do is confirm if your product is STP compliant.

If your system is still manual it is now time to discuss your reporting options to avoid any penalties in the future.

In the event that you need a software solution or want to review your current reporting system, we are happy to discuss the most cost effective solution for you.

We are here to help you through the process, so please do not hesitate to contact us.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Plus 1 Group logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

CPA Logo
Professional Standards Legislation logo
Platinum Xero Partner
MYOB logo
Quickbooks logo

Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Bank Details Scam

Bank Details Scam

Bank Details Scam

SCAM ALERT – Changes to bank details sent by email

Fraudsters are now monitoring websites or emails and using tricks to mimic usernames & signatures.  These spoofing tools to make it appear as if the email has come from you/your business.
They then send emails out advising that the bank details have changed and that the customer needs to update the records urgently.

There have been a number of cases locally where businesses have been caught up in these scams. The emails appear legitimate and may even have the name of a company employee, Director or Owner.

We strongly recommend that you always verify any information sent in this way. The most secure way to do this is a quick phone call to the supplier asking them to confirm their details. Often, they may not even be aware their emails have been compromised in this way.

Scammers now changing business invoices containing bank details

Fraudsters are constantly making their crimes sophisticated. Their latest efforts involve phishing emails allowing them to hack your personal or business email accounts.

They then monitor your email account for an opportunity to intercept an invoice. For example, when you are purchasing goods and awaiting on an invoice or email, or if your business is sending an invoice by email.

The scammers intercept the email, change the bank details on the invoice and send it on for payment. In many cases, they use spoofing to make the email address seem credible and trustworthy. Spoofing changes a letter or domain in the email address to make it appear legitimate.

The recipient pays the invoice thinking it comes from a legitimate source, when in fact the money is paid into the scammer’s account.

Advice from Plus 1 Group regarding bank details

Please be aware that should our banking details change we will NEVER communicate this via email.

Should you ever receive any email announcing a change in bank details or notice that our details have changed on our invoice, please contact us immediately to verify you are sending payment to the correct bank before you pay.

We have taken this step to secure our business and strongly recommend to our clients that they do likewise. One of the simplest steps your business can take is to always verify any change of bank details for employees, customers or suppliers by phone. If you reply to the email sent to you to verify the request, you would just be sending it back to the scammers.   

If you would like any further information, please contact our office on 5833 3000.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

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If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

Fuel Tax Credits Update

Fuel Tax Credits Update

Fuel Tax Credits Update – February 2019

The fuel tax credit rates below have changed, effective 4 February 2019. Different fuel tax credit rates will need to be claimed for fuel acquired before and after February 4.

Fuel purchased for on-road use in eligible heavy vehicles
New rate: 15.8 cents per litre (previously 15.4 c per litre).

Fuel purchased for powering auxiliary equipment
New rate: 41.6 cents per litre (previously 41.2 c per litre).

For fuel tax credit rates lists please click here.
For the ATO fuel tax credit calculators please click here.

Please call our office should you have any queries.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

plus-1-logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us