New tax rates will apply from 1 January 2017
From 1 January 2017 tax rates are changing for working holiday makers who hold 417 and 462 visas. These rates are known as working holiday maker tax rates.
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If you employ a working holiday maker who is in Australia on a 417 or 462 visa, you:
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| The working holiday tax rates only apply to income earned from 1 January 2017.
If you currently employ working holiday makers you’ll need to issue two payment summaries this year:
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702-704 Murray Street
West Perth WA 6005
+61 8 9486 7515
finance@vegetableswa.com.au
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Photography by Craig KinderFocus: Manage all legal issues related to operating the business
Considerations:
Typical Activities:
Focus: Effectively manage the IT infrastructure to Support the business execution
Considerations:
Typical Activities:
Focus: Effectively manage the finances of the business
Considerations:
Typical Activities:
Focus: Effectively manage the finances of the business
Considerations:
Typical Activities:
Focus: Cost effective purchasing of all key inputs
Considerations:
Typical Activities:
Focus: Effectively and efficiently maintain machinery to execute to maintain production
Considerations:
Typical Activities:
Focus: Effectively and efficiently manage people to execute the business
Considerations:
Focus: Sell Crop
Considerations:
Typical Activities:
Focus: Transportation of the crop to end market
Considerations:
Typical Activities:
Focus: Marketing the crop for sale
Considerations:
Typical Activities:
Focus: Process the crops for the purpose sales
Considerations:
Typical Activities:
Focus: Assist the Crop to Grow
Considerations:
Typical Activities:
Focus: Harvest the Crop
Considerations:
Typical Activities:
Focus: Plant the crop
Considerations:
Typical Activities:
Focus: Ground preparation ahead of planting
Considerations:
Typical Activities:
Focus: Growing plan for the year ahead that also includes the growing process that repeatedly delivers to quality
Considerations:
Typical Activities:
Focus: Manage the capital investment assets to provide the best returns to increase business wealth
Considerations:
Typical Activities:
Focus: Set a clearly defined strategy and plan for the purpose of the business over the 3-, 5- & 10-year time horizon
Considerations:
Typical Activities:
Focus: Manage communications with external stakeholders that may impact the business
Considerations:
Typical Activities:
Focus: Actively manage the land and water to support the business’s longer-term plan
Considerations:
Typical Activities:
Focus: Actively manage the reputation of the business and any risks to this
Considerations:
Typical Activities:
Focus: Set a clearly defined strategy and plan for the purpose of the business over the 3-, 5- & 10-year time horizon
Considerations:
– What is the way of life that business needs to support?
– What is the purpose of my farm business?
– What’s the long-term plan for the farm?
– Who will inherit the farm, if something happens?
– How do we intend to achieve?
– What type of finance/capital model business do we want to be?
Typical Activities:
– Set up most effective business structure (family trust, company etc.)
– Identify scale of production required to meet financial goals
– Identify crop opportunity or niche (why do you decide to grow what you do and which method do you use – conventional, organic, protected cropping etc.)
– Understand cost of operation and production
– Put legal succession plan in place
