Farms Advice Podcast

The Surprising Truth About Farm Trusts and New Tax Laws You Need to Know

Welcome to the Farms Advice Podcast. As most farmers are overwhelmed, underwhelmed and everything in between by the recent tax reforms and uncertain future legislation. But what if the key to safeguarding your farm and growing wealth is understanding the upcoming changes—and knowing when to act? This episode dives into the complex world of new trust and CGT laws, revealing how they could impact your family farm's structure, succession plans, and asset protection strategies. Join us as we break down the proposed 30% trust taxation minimum, the potential for increased capital gains taxes, and the implications for trust structures used in agriculture. Brian Wray, a seasoned tax advisor at Boyce Brian Ray, shares concrete insights into how these reforms could reshape your financial and estate planning. You'll discover how primary production income might be carved out versus other income streams, and what that means for your assets and legacy. We explore practical strategies, including the timing of restructuring, the best structures for asset protection, and the importance of aligning your goals with evolving legislation. Whether you're contemplating purchase decisions, succession planning, or asset transfers, this episode equips you with the knowledge to make informed, confident choices before new laws take effect—potentially as early as 2027. Why does this matter? Because acting too soon or too late could cost you dearly, especially given the uncertain political landscape and the possibility of policy reversals. Get ahead of the curve with expert insights that help you navigate structural risks, maximize your tax benefits, and secure your farm’s future. Perfect for farmers, landowners, and agricultural families looking to safeguard their legacy amid shifting legislation—this episode is your essential guide to future-proofing your farm business. Stay informed, stay strategic, and keep your farm thriving. Brian Wray is head of tax advisory at Boyce Brian Ray, with over 15 years of experience helping farmers navigate complex tax and succession issues, making him a trusted voice in agricultural finance. Head to Boyce for more information about your scenario or your own accountant/advisors. https://www.boyceca.com/ Follow to keep the conversation flowing Follow Jack on Instagram https://www.instagram.com/cressy__/ [https://www.instagram.com/cressy__/] and Twitter https://x.com/jcressw3 [https://x.com/jcressw3]  YouTube  https://www.youtube.com/@farmsadvice [https://www.youtube.com/@farmsadvice]  Follow Farms Advice - https://instagram.com/farmsadvice [https://instagram.com/farmsadvice]   Join the Farmers Only Group - https://www.facebook.com/groups/farmsadvice [https://www.facebook.com/groups/farmsadvice]   For more like this go to https://farmsadvice.com.au [https://farmsadvice.com.au/]  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

From Anxiety to Authority: The Key Skill That Transforms Agricultural Negotiations with Georgia Stormont

Welcome to the Farms Advice Podcast. Sales shows up everywhere in agriculture and even on farm. That's why we got Georgia on to see how it's done. Understanding the Power of Sales in Agriculture with Georgia Stormont. Discover how sales principles can transform your farm business and industry relationships in this insightful episode featuring Georgia Stormont, sales coach and agri-industry expert. Whether you’re in the paddock or the boardroom, learn practical tips on connection, understanding customer needs, and evolving your sales approach to enhance profitability and trust. In this episode: * The importance of sales across all farm activities, from livestock to grain presentation * Georgia’s background: from city suburbs to agriculture and her journey into farming sales * The common struggles farmers face with sales, including the fear of rejection and the need for relationship building * How understanding your own sales flow and personality can increase confidence * The significance of connecting with customers’ emotional drivers and end goals * Strategies for effective follow-up, including CRM use and personal touches like notes * Building trust through consistent presence at industry events and farm visits * Key mental models like curiosity, vulnerability, and self-awareness, to enhance sales and relationships * The role of intentional daily routines and setting boundaries to avoid burnout * The value of investing in team skills, including AI and ongoing training * Practical tips for farm-to-farm sales: asking open-ended questions, understanding personalities, and making it a reciprocal relationship * Dispel common sales myths, emphasizing that product knowledge alone doesn’t create great salespeople * The importance of showing up, authentic engagement, and continuous relationship nurturing Resources & Links: * Selling in the Paddock Book [https://www.amazon.com/Selling-Paddock-People-First-Confidence-Agriculture-ebook/dp/B0GSH41V26/ref=sr_1_1?dib=eyJ2IjoiMSJ9.w2kMC5QffyuuoGvVwJUCzWDdLpwGnz21CaZ-Nk1ycE9zghy8JsCY9_aVbzx7JGG_.kyaUPdmMqQF1OWW5lZwVUC8CC8CPF2230deFXQqMbfc&dib_tag=se&keywords=selling+in+the+paddock&qid=1781094967&sr=8-1] * Georgia Stormont on LinkedIn [https://www.linkedin.com/in/georgia-stormont-35070a4b/] Connect with Georgia Stormont: * LinkedIn [https://linkedin.com/in/georgiastormont] Timestamps: 00:01 - Sales’s vital role on farm and industry relationships 01:30 - Georgia Stormont’s background and journey into agriculture sales 06:25 - Common fears in agricultural sales and how to overcome them 10:11 - The importance of self-awareness and understanding your sales flow 14:03 - Connecting with customer needs through personality profiling 19:57 - Building trust and rapport during farm visits and industry events 23:44 - Asking effective questions to uncover customer values and needs 28:23 - Following up diligently to nurture ongoing relationships 34:29 - Setting the right tone in communications with the right language 39:59 - Strategies for farm-to-farm sales and the importance of relationship over transaction 49:06 - The core value of being people-first in sales and life 52:56 - Key takeaways: Confidence, vulnerability, and continuous learning 55:47 - The power of simple gestures: notes and personal touches 60:14 - Celebrating sales as a way to motivate and build team culture Follow to keep the conversation flowing Follow Jack on Instagram https://www.instagram.com/cressy__/ [https://www.instagram.com/cressy__/] and Twitter https://x.com/jcressw3 [https://x.com/jcressw3]  YouTube  https://www.youtube.com/@farmsadvice [https://www.youtube.com/@farmsadvice]  Follow Farms Advice - https://instagram.com/farmsadvice [https://instagram.com/farmsadvice]   Join the Farmers Only Group - https://www.facebook.com/groups/farmsadvice [https://www.facebook.com/groups/farmsadvice]   For more like this go to https://farmsadvice.com.au [https://farmsadvice.com.au/]  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Olympic Athlete to Farmer: Now Leading Farms Through Succession with Richard Hamilton

BUILDING A LEGACY: INSIGHTS ON FAMILY FARM SUCCESSION WITH RICHARD HAMILTON In this episode, Richard Hamilton shares his extensive experience from elite sports to farming, emphasising the importance of early conversations, leadership, and a mindset shift in successfully passing on family farms. Whether you're in the thick of succession planning or just starting to think about it, Richard's insights will challenge you to rethink how you prepare for the future. KEY TOPICS: * The parallels between sports leadership and farm management * Why starting succession conversations early is critical * Building trust through transparent communication * The importance of leadership and mentorship in agriculture * Strategies for managing debt and financial planning in succession * Cultivating a culture of empowerment and growth within farm teams * How to balance lifestyle goals with farm responsibilities * The role of technology and innovation in modern farming transitions * Practical steps for emotional and financial preparedness * The long-term value of planning for multiple generations TIMESTAMPS: 00:00 - Introduction: Why succession planning needs a new perspective 02:17 - From Olympic athlete to successful farmer: a mindset of resilience 05:00 - Building trust through early and honest conversations 07:22 - The importance of leadership and mentorship in farm teams 10:00 - Managing debt and financial considerations in succession 12:45 - Cultivating a culture of responsibility and innovation 15:00 - Strategies for engaging upcoming generations 17:30 - Using sport as a blueprint for farm transition success 20:00 - The significance of ongoing communication and confidence 22:50 - Addressing emotional barriers and family dynamics 25:00 - The impact of external factors like policy and market risks 27:30 - Practical tips for starting the succession conversation today 30:00 - Creating a shared vision for the farm’s future 32:45 - Teaching leadership skills through everyday practices 35:30 - The role of humility and kindness in leadership 38:00 - Embracing technology and change for future-proofing farms 41:00 - The importance of timing and a proactive approach 43:15 - Final thoughts: building a legacy beyond just a business RESOURCES & LINKS: * Richard Hamilton - LinkedIn [https://www.linkedin.com/in/richard-hamilton-3b8841193/] * Align Generations - New business initiative for early succession planning [https://aligngenerations.com/] * The Book: Don't Die With The Music In Me by Wayne Bennett [https://amazon.com/dp/B08XYZ1234] Remember, successful farm succession is an ongoing journey, not a one-off event. Start the conversation early, involve trusted advisors, and focus on building leadership and trust within your family and team. The future of your farm depends on it. Pass on the #FarmsAdvice to your friends and family. Follow to keep the conversation flowing Follow Jack on Instagram https://www.instagram.com/cressy__/ [https://www.instagram.com/cressy__/] and Twitter https://x.com/jcressw3 [https://x.com/jcressw3]  YouTube  https://www.youtube.com/@farmsadvice [https://www.youtube.com/@farmsadvice]  Follow Farms Advice - https://instagram.com/farmsadvice [https://instagram.com/farmsadvice]   Join the Farmers Only Group - https://www.facebook.com/groups/farmsadvice [https://www.facebook.com/groups/farmsadvice]   For more like this go to https://farmsadvice.com.au [https://farmsadvice.com.au/]  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Building Modern Leadership and Recruitment on Farm with John Boote

In this episode, John Boote from Drover Ag as a partner of the podcast shares insights on transforming agricultural recruitment and leadership towards a more modern, human-centric approach. We discuss strategies to attract, retain, and develop quality farm employees amidst economic and climatic challenges, emphasising communication, culture, and mental wellbeing. Main Topics Covered: * Shifting leadership models from hierarchical to flatter, mentorship-based structures * The importance of communication, approachability, and vulnerability in farm teams * How to develop and retain top talent using simple, effective practices * The impact of culture, structure, and physical environment on recruitment and workplace satisfaction * The role of AI and technology in streamlining recruitment processes * Addressing burnout, mental health, and family dynamics in agriculture * Strategies for encouraging continuous improvement and professional development on farms * Practical steps to create a supportive and engaging farm workplace Resources & Links: * Drover Ag [www.droverag.com.au] Follow to keep the conversation flowing Follow Jack on Instagram https://www.instagram.com/cressy__/ [https://www.instagram.com/cressy__/] and Twitter https://x.com/jcressw3 [https://x.com/jcressw3]  YouTube  https://www.youtube.com/@farmsadvice [https://www.youtube.com/@farmsadvice]  Follow Farms Advice - https://instagram.com/farmsadvice [https://instagram.com/farmsadvice]   Join the Farmers Only Group - https://www.facebook.com/groups/farmsadvice [https://www.facebook.com/groups/farmsadvice]   For more like this go to https://farmsadvice.com.au [https://farmsadvice.com.au/]  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

How Small Decisions Today Can Double Farm Impact in the Next 5 Years with Tracy Blackburn

How Small Decisions Today Can Double Farm Profits in the Next 5 Years Welcome to the Farms Advice Podcast with host, Jack Cresswell. Discover the multifaceted world of contemporary agriculture through the lens of Tracy Blackburn, a lifelong farmer involved in NSW Farmers. This episode unpacks her diverse experiences, industry challenges, and the importance of collective action in shaping the future of farming. Let's shape our futures together, I firmly believe all farmers should be on their state/territory organisations. In this episode Tracy Blackburn shares her journey from growing up in Armidale to managing a large family farm in central NSW Insights into the daily routine of a modern farmer balancing on-farm and off-farm roles The significance of decision-making and the concept of "compounding" in farming operations Industry concerns including commodity prices, environmental pressures, and legislative challenges The value of community involvement, policy influence, and networking within NSW Farmers Opportunities and benefits of joining industry organizations for young farmers The impact of external factors such as global markets, trade disruptions, and overseas policies Practical tips for farm management, storage upgrades, and balancing resilience with flexibility Links: Join NSW Farmers [https://www.nswfarmers.org.au/NSWFA/NSWFA/Content/Join_Now/Category/NSWFA_Membership.aspx?hkey=2ddc31e5-de92-4435-b253-00874c5a001d] Find out the benefits for a support, agribusiness and farmers. Let’s continue the conversation Farmers Only Facebook Group [https://www.facebook.com/share/g/16atmpeHN4/] Follow to keep the conversation flowing Follow Jack on Instagram https://www.instagram.com/cressy__/ [https://www.instagram.com/cressy__/] and Twitter https://x.com/jcressw3 [https://x.com/jcressw3]  YouTube  https://www.youtube.com/@farmsadvice [https://www.youtube.com/@farmsadvice]  Follow Farms Advice - https://instagram.com/farmsadvice [https://instagram.com/farmsadvice]   Join the Farmers Only Group - https://www.facebook.com/groups/farmsadvice [https://www.facebook.com/groups/farmsadvice]   For more like this go to https://farmsadvice.com.au [https://farmsadvice.com.au/]  ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.