Farm Accounting & Advice

Accounting for Primary Production involves specific business, financial, and taxation issues, and a specialist understanding of the industry.

Thorntons Business Advisors started as a Wheatbelt-based firm and today continues to provide high level accounting and management services to a number of clients on the land or in country centers from Geraldton to Esperance.

We keep abreast of the developments in both the farming and accounting industries, ensuring we are uniquely placed to provide up-to-date, accurate advice.

We understand the problems and challenges faced by rural businesses and we provide advice not only on tax and accounting issues, but also on succession planning and general business matters.

Tax Planning

We look after your affairs to ensure all compliance requirements are met. This includes the preparation of Financial Statements and Tax Returns. We will also help to estimate your profit for the year in May/June to allow you enough time to manage your tax for the year.

 

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Farm Structure

Many farm businesses have complex ownership structures and sometimes there is a misunderstanding about which entity owns on-farm and off-farm assets.

It is important you understand what entities you operate your farm through and own your assets in.

We are experienced and provide advice on farm business structures and re-structuring, timing, commercial considerations, benefits and managing the legal and tax costs of change.

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Farm Succession Planning

Succession planning for farmers can be difficult but it is an important issue that needs to be addressed and planned for. We can help develop a well thought out and detailed plan to take the stress out of succession when it comes.

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Specialised Farm Accounting Software Assistance

Maintaining a farm’s financial records is essential and we can help guide you through the latest accounting software to ensure your records are kept up to date.

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Country Visit Dates

Thorntons Accountants and Business Advisors regularly travel to regional WA. In 2018 we will be travelling to the following areas:

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We have dedicated experts ready to help with advice about your farm tax and accounting needs

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