End of Year Spending
A brand new tractor being unloaded at a farm in Western NSW
The end of the financial year has come and gone, with its last weeks being met with a flurry of spending from the small business sector trying to take full advantage of the small business tax bonus.
Whilst travelling through farming land near Dubbo in New South Wales it was clear that for many farmers, at least, this was ringing true. In a trip to one machinery dealership I saw a very busy staff tending to their farmer customers, taking the opportunity to purchase and update equiptment such as tractors, spray rigs, and slashers. One farmer, who was a bit embarrased to be seen to be “overspending in the GFC” (Global Financial Crisis) was put at ease when he found out that a new tractor would soon be delievered to most of his neighbours as well.
Some people who accuse farmers ‘crying poor’ will take this article to say that they have plenty of money thet they’re happy to throw around. However, I must stress that the farmers mentioned have been very fortunate over the past two years, living in a small pocket that has (recently) been less effected by drought than other areas where the rain still hasn’t come at the right time. Spending on new equiptment and farm improvements also increases the ability of farmers to implement more sustainble farming practice.
Best of luck to all the agricultural business people out there!
Signing off,
Louise.
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