Latest news with #NationalFarmers'Federation
West Australian
21-05-2025
- Business
- West Australian
Asset rich, cash poor: Farmers come out swinging against Labor's plan to tax unrealised gains
Farmers have come out swinging against Labor's planned changes to superannuation taxation, saying asset-rich but cash-poor farming families may have to sell property to cover the tax. From July 1, the concessional tax rate will rise from 15 per cent to 30 per cent on the earnings attributable to super balances above $3 million, including taxing unrealised gains on the increased value of farming properties. Agriculture industry groups have labelled the move 'unfair' and 'unreasonable', with unrealised gains being profits that farmers have not received and cannot use until they have sold their land. National Farmers' Federation president David Jochinke said 3500 farming families would be instantly hit, with another 14,000 also affected if property values grew above the threshold. He said the impact would be most felt in multigenerational families where older farmers held their assets in self-managed super funds and leased the day-to-day operations to their children. This arrangement works because it provides retirement income for the parents, as well as an opportunity for the next generation to start farming. 'Like any property, farmland values can rise, but these paper gains don't translate to real income. Rises in land values usually mean very little when farms are multigenerational with no intention of being sold,' Mr Jochinke said. 'This tax could force some farmers to sell up just to pay their tax bill.' Business groups have been consistently lobbying the Government to drop the unrealised gains component of the policy, but Council of Small Business Associations chief executive Luke Achterstraat said the group had not seen 'any consideration to change the tax' in two years. 'We're not necessarily talking about high-net-worth individuals here. We're talking about a lot of small family and farming communities,' Mr Achterstraat said. Less than one per cent of Australians have super balances worth more than $3m, but critics claim the proposal could end up affecting more people because it would not be indexed. It is understood wealthy retirees, including farmers, have been selling assets and restructuring their investment portfolios ahead of the July 1 deadline. Federal Treasurer Jim Chalmers has repeatedly defended the changes, labelling them 'modest' and an 'important part' of efforts to make the Budget more sustainable. 'It only applies to a tiny sliver of people, and it is still concessional,' he said. 'This is a modest change, but helps make the Budget more sustainable and fund our priorities.' When announcing the change back in 2023, Dr Chalmers said about 80,000 Aussies would be impacted or about 0.5 per cent of the population by wealth. But modelling from AMP deputy chief economist Diana Mousina shows the average 22-year-old today could retire with more than $3m due to wages growth, inflation and compound interest. Pastoralists and Graziers Association of WA president Tony Seabrook said Labor's proposal would catch super account holders 'trying to do the right thing', off guard. 'Those that have taken the advice to put their properties into their superannuation, are in a world of pain,' he said. 'People took the advice to do this . . . and it was good advice. 'Asset-rich and cash-poor has been the nature of our business forever . . . to do this is unfair and unreasonable, and fails to acknowledge the impact on rural farming families.' The move is Labor's major revenue-raising initiative for its second term of government, with estimates the move will rake in $2.3 billion per year. The legislation, before Parliament since November 30, 2023, will only require Senate support from the Greens to pass — a likely outcome given they have expressed support for the policy.
West Australian
13-05-2025
- Business
- West Australian
Allison Dakin is selected for National Farmers' Federation competitive leadership program
Myroodah Station's Allison Dakin has been selected for the National Farmers' Federation's mentoring and networking program designed to nurture women in the agriculture industry. Ms Dakin joins 11 other women from across the country in the 2025 Diversity in Agriculture Leadership Program which will connect and empower the leaders to elevate their careers, expand their networks, and drive meaningful change within the industry. All candidates will be matched with an industry-leading mentor and will work towards personal and professional goals during the program. Ms Dakin — who currently lives at Myroodah Station, Derby — has spent the majority of her life working in the Australia agriculture industry and said she was looking forward to the three-day leadership retreat in Canberra in June. She said she is particularly looking forward to learning and being inspired by 'amazing women doing amazing things'. Ms Dakin is no stranger to leadership, currently working as an executive officer at the Kimberley Agriculture and Pastoral Company — an integrated pastoral enterprise made up of four Indigenous-owned pastoral stations in northern WA, including Mt Anderson, Myroodah, Frazier Downs and Bohemia Downs. KAPCO provides an avenue for Indigenous people to gain training, skills and employment on country. NFF President David Jochinke said it was a very competitive selection process for the 2025 cohort. 'These twelve women are the cream of the crop, and we congratulate them for taking the time and effort to further their leadership skills through this program,' he said. 'The NFF has set a goal to double the number of women in agriculture's leadership ranks by 2030. 'This program boasts dozens of alumni and is now in its eighth year, a testament to the desire for diversity in ag's leadership spaces. 'I look forward to seeing these talented professionals thrive in this year's program.' Ms Dakin will be joined by Queensland's Karen Penfold, Courtney Bailey, Vivienne McCollum and Bronwyn Venus, New South Wales' Nada Sukkarieh, Malinda Newton, Mary Johnson and Georgia Campbell, Northern Territory's Anna Cochrane, and South Australia's Mon Saunders. The flagship initiative was implemented in 2018 to address the under representation of women in agriculture's leadership ranks. WA 2024 graduate Ming Fung Chua praised the program for expanding her leadership horizons. 'The program has empowered me to break free from self-imposed limitations, embrace my potential, and build lasting bonds with incredible women who have supported my journey toward personal and professional growth,' she said.
Sky News AU
08-05-2025
- Business
- Sky News AU
‘Soul crushing' drought in Tasmania influences $73 million dollar support package
National Farmers' Federation President David Jochinke calls the drought conditions occurring in Australia's south-east 'soul-crushing' for farmers. Due to the financial loss the drought has caused, the South Australian government has released a $73 million drought support package to help farmers and their communities cope. 'It would be awesome now with the new government to be put in place to really change their focus and get out to these regional communities and put their arms around them,' Mr Jochinke said.
ABC News
23-04-2025
- Politics
- ABC News
Mobile coverage is an election issue in regional areas. What's been promised?
Eleven Mile Beach is as dangerous as it is spectacular. A short drive from Esperance on Western Australia's remote and rugged south coast, the sand dunes are popular among weekend adventurers. But veteran paramedic Paul Gaughan has seen things go pear-shaped here far too often. Catch the latest interviews and in-depth coverage on "The beach itself is quite soft," the Esperance station manager for St John WA said. "It's quite a mission to retrieve people here." In his line of work, a phone signal can be the difference between life and death. Paramedics like Paul Gaughan remain frustrated by a lack of phone reception in regional and remote areas. ( ABC Esperance: Emily Smith ) But at Eleven Mile, and numerous other local beaches, the lack of reliable connection remains a major frustration. "Often there's a delay in people being able to communicate where they are," he said. "Sometimes they have to try and run to the top of a hill somewhere. "Often we have to call for backup, and that can be a difficulty for us as well." Reforms promised If re-elected, the Albanese government has pledged to legislate universal mobile coverage across Australia. The move would require telcos to guarantee basic voice and SMS coverage nationwide. It is made possible largely by the advent of low-Earth orbit (LEO) satellites, such as Starlink, and would be implemented by 2027. The announcement has been well received by regional stakeholders, including the National Farmers' Federation (NFF). Prime Minister Anthony Albanese has pledged to legislate universal SMS and voice coverage if re-elected. ( Twitter: Anthony Albanese ) However, NFF president David Jochinke said investment in the terrestrial network needed to continue. Photo shows man with tower in bakground Low-orbit satellites would provide mobile voice and SMS services to vast areas of the country under a pre-election pledge from Labor. "Satellite-based connectivity is just one piece of the puzzle, and the need for continued co-investment in mobile towers by telco providers and government isn't going away," he said. " Land-based coverage from mobile towers will still be the gold standard for years to come. " The Coalition has said a Dutton government would "improve access to telecommunications and high-speed internet" for regional Australians, though further details have not been provided. "Regional communities deserve the same quality of services as those in the city," Shadow Communications Minister Melissa McIntosh said. She said the "bungled" handling of the 3G network closure had set regional communities back. The Albanese government said further reforms would be announced as it "considered recommendations" from the 2024 Regional Telecommunications Review. When it comes to telecommunications reforms, those living in some of the most remote corners of the country want to ensure their voices are heard. Read more about the federal election: Want even more? 'Better off 10 years ago' Kirk Whiting runs a broadacre cropping operation about 100 kilometres west of Esperance. "We've got nine staff on this farm and trying to coordinate is a massive, massive job," he said. He said the farm's mobile coverage was patchy at best. "Along the highway it's quite good," he said. "But as soon as you leave the highway, it's near-on non-existent." Kirk Whiting says mobile coverage on his farm has become worse over the years. ( ABC Esperance: Emily Smith ) Mr Whiting said black spots created challenges for marketing grain and keeping track of staff. Photo shows A graphic showing a range of reader comments about potential issues in Australia's 2025 federal election. What do you need to know before you vote in the upcoming federal election? What would you ask the candidates? Have Your Say. "If we miss prices, that can be tens of thousands of dollars … real-time connectivity is very important in this day and age," he said. "And you've just got to be careful with staff. If you don't hear from someone for a while, you've got to check on them." Despite the advancements in technology, he said the mobile coverage on his farm had regressed over the past decade. He said the problem had been compounded by the "With the data loads that the towers are taking now, we were definitely better off 10 years ago," he said. Mr Whiting says black spots in mobile signal can affect workers' safety. ( ABC Esperance: Emily Smith ) The 2024 Regional Telecommunications Review recommended the government "prioritise funding to improve existing terrestrial mobile network capacity, service quality, and resilience". Mr Whiting implored all sides of politics to listen to farmers. "Mining booms come and go," he said. " Farming is here for as long as humans need to eat … governments need to back us and give us the infrastructure we need. " Lives on the line A few months ago, a local farmer was holidaying at a remote beach east of Esperance when he suffered a cardiac arrest. There was no mobile reception. St John WA paramedics hope to see an improvement in mobile phone coverage throughout regional and remote parts of the state. ( ABC Esperance: Emily Smith ) Thankfully, another camper had access to a private satellite system. "They were able to call [emergency services] from there," Mr Gaughan said. By using a St John WA defibrillator, which was fortuitously located at the beach, family members kept the man alive until an ambulance arrived. "That patient survived," Mr Gaughan said. "I'd hate to think, if they couldn't get through to an ambulance, what the result would have been." Loading Having trouble seeing this form? Try
Yahoo
03-04-2025
- Business
- Yahoo
'Not the act of a friend': Australia angry over Trump tariffs
Australia has been hit with a tariff of at least 10% on all exports to the US, as Donald Trump announced his new sweeping global trade regime. Trump cited "trade barriers" such as Australia's biosecurity laws - singling out a ban on the import of US beef - as the reason for what he called a "reciprocal tariff". Australian Prime Minister Anthony Albanese called the measure "totally unwarranted", but said the nation would not introduce its own tariffs in return, instead seeking a return to the negotiation table. The 10% dealt to Australia was the "baseline" measure, with the most severe tariffs - of up 49% - hitting countries like China, Malaysia, Vietnam and Cambodia. "President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10%," Albanese said at a press conference on Thursday. "The administration's tariffs have no basis in logic and they go against the basis of our two nation's partnership. This is not the act of a friend," he added. The new measures come only weeks after President Trump imposed 25% tariffs on Australian steel and aluminium imports. However, the prime minister said Australia would not be retaliating on US goods. "We will not join a race to the bottom that leads to higher prices and slower growth," he said. But he warned the tariffs would have consequences for how Australians see ties with the US, and that the country would resort to formal "dispute resolution mechanisms" contained in its free trade agreement with the US if necessary. During his "Liberation Day" speech, Trump pointed to Australia's ban on fresh beef from the US - which was introduced in 2003, after cases of mad cow disease, an infectious neurological illness, were discovered in North America. "They're wonderful people and wonderful everything, but they ban American beef," he said. "They don't want it because they don't want it to affect their farmers." "I don't blame them, but we're doing the same thing right now," Trump added. Meloni says Trump tariffs are 'wrong' as world leaders react Trump's tariffs on China, EU and more, at a glance The tariffs have also drawn an angry response from Australia's National Farmers' Federation (NFF), who expressed "profound disappointment". "This decision is a disappointing step backward for our nations and for the global economy," NFF President David Jochinke said. The NFF said the US's decision created "unnecessary uncertainty", but vowed to work closely with the federal government to seek a resolution. Along with its biosecurity rules, Australia's subsidised medicines scheme and laws requiring foreign tech companies to pay local media for news had drawn the US's ire in recent tariff discussions. Albanese earlier this week said those issues were non-negotiable: "I continue to stand up for Australia and have said very clearly we won't compromise and negotiate on our PBS [Pharmaceutical Benefits Scheme], on our biosecurity, on our media bargaining code." The US is one of Australia's most important trading relationships, raking fifth for exports. China, however, dwarfs all of Australia's other trade partners - in 2023-24, A$212.7bn (£102.2bn, $133.4) was exported to the Asian superpower. In comparison, last year, Australia exported $37.5bn in goods and services to the US. Business services were the biggest sector at $6.2bn, followed by intellectual property charges and beef. In the same year, Australia imported $88.2bn in goods and services from the US. What are tariffs and why is Trump using them? China and Australia: Frenemies who need each other Albanese faces headwinds ahead of Australian election
