FARMERS – AUSTRALIA

Turnbull considering more drought aid

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 7-Aug-18

The federal government is likely to offer more assistance to drought-impacted farmers, as it looks at ways to help farmers adjust to a climate that is becoming hotter and drier. Short-term assistance that the government can offer could include helping to pay for the high cost of fodder transportation, while longer-term measures could include assistance with on-farm water storage and other infrastructure, including the possibility of tax write-offs. National Farmers’ Federation CEO Tony Mahar says subsidising crop insurance would also help farmers.

CORPORATES
NATIONAL FARMERS’ FEDERATION LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RABOBANK AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES FARMERS ASSOCIATION

Farm families forgotten in ANZ loan

roymorgansocial Leave a comment

Original article by Sue Neales
The Australian – Page: 2 : 26-Jun-18

The banking royal commission’s current hearings are focusing on how banks such as the National Australia Bank and ANZ treat their farming clients. Ben Steinberg from ANZ, which acquired $A2.4 billion worth of farm loans from Landmark Financial Services in 2010, has conceded that it did not take into account the human impact of calling in bad loans and evicting farm families. He said that ANZ should have been more conscious of the fact that many Landmark customers were not used to dealing with a large bank.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LANDMARK FINANCIAL SERVICES, RABOBANK AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, RURAL BANK LIMITED, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

Cash payments limit has easy workaround: agents

roymorgansocial Leave a comment

Original article by Duncan Hughes, Su-Lin Tan
The Australian Financial Review – Page: 11 : 10-May-18

Real estate agents and property brokers have questioned the effectiveness of the Federal Government’s proposed crackdown on the cash economy. They argue that many agents no longer accept cash payments, while people will be able to bypass the proposed limit of $A10,000 for cash payments by making a series of smaller payments in cash. Farmers also warn that the crackdown may not be effective, noting that cash payments are rife in the horticulture industry.

CORPORATES
BLACK DIAMONDZ PROPERTY CONCIERGE, N1 HOLDINGS LIMITED – ASX N1H, AUSTRALIAN TAXATION OFFICE

Slap for exemptions in Labor ‘tax grab’

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 5 : 11-Aug-17

The Federal Opposition has been attacked over its plans to exempt farmers from its proposed crackdown on the taxation of discretionary trusts. Labor has claimed that its proposed changes will raise $A17 billion over 10 years. Shadow treasurer Chris Bowen says the exemption of farmers is warranted on the grounds that their income fluctuates. However, Small Business Minister Michael McCormack says the same argument could be made for small business owners, and Labor is not planning to exempt them from its changes.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

Farmers applaud subsidy cut but say it’s just a start

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 22-Dec-15

New South Wales wheat, barley and canola farmer John Booker has welcomed the World Trade Organization’s decision to abolish agricultural export subsidies. He does not expect to benefit immediately from the decision, but he is optimistic about the long-term gains. Tony Mahar of the National Farmers Federation argues that the domestic support subsidies that some countries provide to farmers must also be scrapped.

CORPORATES
WORLD TRADE ORGANIZATION, NATIONAL FARMERS’ FEDERATION LIMITED, CATTLE COUNCIL OF AUSTRALIA, AUSTRALIAN DAIRY INDUSTRY COUNCIL

Farmers ‘ready to invest’ again

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 18 : 11-May-15

Australian farmers’ total debt stands at about $A60.9bn, Rabobank Australia CEO Thos Gieskes says capital investment is on the agenda again. In recent years many farmers have focused on reducing debts incurred during the drought, but Gieskes says farmers are increasingly upbeat about the sector’s outlook. Meanwhile, he says the Federal Government should redirect funding for the Farm Finance Concessional Loans Scheme to rural R&D programs.

CORPORATES
RABOBANK AUSTRALIA LIMITED, AUSTRALIA. DEPT OF AGRICULTURE, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, RABODIRECT

Rainfall and tumbling dollar lift farmers to a four-year high

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 20 : 23-Mar-15

A new survey by Rabobank shows that Australian farmers’ confidence has risen to its highest level since March 2011. Peter Knoblanche of Rabobank notes that farmers in New South Wales and Queensland have benefited from rain in January, which in turn has boosted cattle prices. The survey also shows that farmers are also generally upbeat about the outlook for the next year

CORPORATES
RABOBANK AUSTRALIA LIMITED, NUFARM LIMITED – ASX NUF, ELDERS LIMITED – ASX ELD, GRAINCORP LIMITED – ASX GNC, AUSTRALIAN AGRICULTURAL COMPANY LIMITED – ASX AAC

Farmers may profit from gas

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 1-Jun : 25-Jun-14

Australian Industry Minister Ian Macfarlane has argued that the current friction between farmers and the gas sector especially in New South Wales (NSW) and Victoria could be addressed by giving the former a share of the royalties. While this would overturn the long-held legal position that rural landholders do not own the resources below the ground, an access and royalty sharing regime has already been negotiated in Queensland. Santos and AGL Energy have also struck similar deals in NSW, but have upset their rivals with the move. Federal Agriculture Minister Barnaby Joyce backs the push as well. Meanwhile Macfarlane says there will be no domestic gas reservation policy

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. DEPT OF AGRICULTURE, AGL ENERGY LIMITED – ASX AGK, SANTOS LIMITED – ASX STO, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, TRANSFIELD SERVICES LIMITED – ASX TSE, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED