Having grown up on his parents’ Brahman and Droughtmaster stud in Bell, Carrick Aland Client Manager Cameron Sorley is very well acquainted with the issues facing primary producers and local business.
Based in Carrick Aland’s Toowoomba and Dalby offices, Cameron is currently on track to finish his CPA qualification this financial year.
Cameron’s niche is helping primary producers and local business operators with their tax and accounting, especially getting the most out of using accounting packages and add-ons.
What he enjoys most about being an accountant is developing relationships with clients and assisting people to grow their businesses and their wealth.
“Carrick Aland was born from local roots and local people so offers a very personal touch to client service,” says Cameron. “Whilst key performance indicators are a good track of a business’ performance, you are not treated like a number.”
Using his primary production insights, Cameron is accustomed to looking at the long game and there are a few issues on his radar.
“The $20,000 immediate deduction threshold for assets purchased by businesses with an aggregated turnover of under $10 million will be extended until 30 June 2018. Assets will need to be used or installed ready for use by 30 June 2018 to qualify for the higher threshold,” says Cameron.
Also from 1 July 2017, the ATO will start informing credit rating agencies of businesses that have outstanding tax debts.
“Anyone with an outstanding tax debt needs to contact us at Carrick Aland first,” says Cameron. “We can liaise with the ATO to help prevent a credit agency threat being triggered.”
On the upside Cameron is quick to point out that family trust or discretionary trusts can avoid paying extra tax this financial year by making their Trust Distribution Resolutions before 30 June. And QRAA Farm Management Grants pose an opportunity for primary producers to obtain funding for professional succession planning advice.
“When it comes to succession planning, the important thing that Carrick Aland recognises is that each case is unique with different timeframes, personal objectives and structures to take account of,” says Cameron.
Cameron joined Carrick Aland in 2011 after kicking off his accounting career in 2003 with Crowe Howarth. He completed his Bachelor of Commerce in Accounting at The University of Southern Queensland and is currently an Associate of CPA Australia (ASA). Cameron is also a Xero Certified Advisor, Figured Specialist and proficient using MYOB, QuickBooks and Reckon for clients. Cameron is also a Member of the Toowoomba Show Society and a volunteer at Bell Races and Bell Show, the latter at which he is a Steward in the Stud Cattle ring. On weekends he’s likely to take his Harley Street Bob for a spin with other members of Darling Downs HOG.