Review on the Australian Beef Report

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Article reproduced from: RANGELANDS MEMO - MARCH 2018 By Trevor Price, Northern Beef Development, Broome In late 2017 Phil Holmes of Holmes and Company and Ian McLean of Bush Agribusiness published an independent review into the profitability of northern and southern beef production systems called the Australian Beef Report. The primary audience for the Australian Beef Report is commercial beef producers. The report summarises the key business and management components that characterise two groups—the top 25% beef producer and the average beef producer—using the author’s data and data from ABARES, MLA NLRS and ABS sources over 12 financial years to 2016. This is a must-read for those beef enterprises serious about profitability. The methodology, economics and analysis are carefully explained and the data are well presented in both tables and…
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Where do I buy my bulls?

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By Dr Phil Holmes Many years ago, when it finally dawned on me how potentially important genetics were to the financial strength of a beef business, I sat down to write a checklist of all the essential features that potential seedstock sources must have in order for me to be interested in and attracted to them. Bear in mind, my motive was, and remains, superior business performance and I fully accept that not all producers share that motive. Making a profit and paying the tax on it is anathema to many commercial beef producers, for reasons that escape me. No offence intended, read the Australian Beef Report for more information. At that time, the power of genetic advantage was not as apparent as it is today, but it was still…
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How do I find the right accountant?

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By Scott Patterson Many agricultural business owners struggle with an answer to this question. It seems that we drop off our records at the end of each financial year and then some time down the track we receive a bulky set of financial statements, our tax returns, an estimate of the tax either payable or refundable, and finally an accounting bill that seems high. Many also pass the comment that “we don’t seem to get any proactive business advice unless we ask a specific question”. Finding a solution to this apparent mismatch of expectations should perhaps start with being as clear as we can about what we want from an accountant before we appoint them. To illustrate my point, before buying a new tractor or 4WD or bull, we would…
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