Evergreen Accounting, a respected accounting and advisory firm serving the primary production sector, today highlighted the imperative for Queensland farmers to prioritize disciplined accounting and proactive tax planning for 2026. The firm has issued this call in response to ongoing farm performance risks arising from misaligned financial timing, inadequate record keeping and missed tax opportunities, all occurring even amid generally favorable operational results for many farms.
“Farmers are making decisions in a high-pressure environment where cash flow, weather, production and pricing are all moving at once,” said Natasha Mackenzie, Managing Director, Evergreen Accounting. Mackenzie underlined that variable climatic patterns, fluctuating input costs, labor commitments and capital investments contribute to a complex business environment unique to the agricultural sector.
The firm noted that, this year in particular, primary producers need to closely monitor major areas affecting their financial position. This includes the correct timing for capital equipment purchases, comprehensive documentation, superannuation obligations, management of tax liabilities and utilization of tax measures like income averaging and farm management deposits. The Australian Taxation Office is offering detailed guidance for primary producers on navigating these sector-specific provisions.
“That makes good accounting absolutely essential. It is not just about tax returns. It is about having the right structure and information to make sound decisions.” said Mackenzie. She advised that many farm businesses stand to improve outcomes measurably by engaging with these decisions at the earliest possible stage and by maintaining clear, precise records.
“If you are thinking about buying machinery, reviewing entity structures, dealing with uneven income or carrying tax debt, timing matters,” Mackenzie said. “The earlier you look at those issues, the more options you usually have.”
Mackenzie also warned that interest on ATO debts will cease to be deductible for amounts incurred on or after 1 July 2025, increasing the cost burden on unpaid tax. “Interest on ATO debts is no longer deductible for amounts incurred on or after 1 July 2025, which means unpaid tax is costing more than it did before,” she explained. “That is a very real issue for businesses with volatile income or seasonal pressure.”
Evergreen Accounting recommends that farming businesses employing staff pay particular attention to payroll and superannuation compliance, especially in light of the 12% super guarantee and forthcoming measures like Payday Super. “Rural businesses are busy businesses, but that does not remove the need for clean payroll systems and current reporting,” said Mackenzie.
“The farms that stay strongest financially are usually the ones that plan ahead, keep good records and get advice before they make major decisions.” According to Mackenzie, proactive consultation with an accountant ahead of end-of-financial-year can help address tax position, investment timing, debt structuring and succession planning concerns well before they become limiting factors. “In agriculture, one good season does not fix poor systems,” Mackenzie added. “Good accounting gives farmers more control, better visibility and stronger long-term decision-making.”
If you’re ready for more proactive, personalised support to better manage your finances, reach out to Evergreen Accounting to learn more.
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Disclaimer: All information in this article is general in nature and is not intended to be advice specific to your circumstances.
