On 1 June HECS-HELP debt is going to get bigger because the Higher Education Loan Program (HELP) — previously known as ‘HECS’ — is tied to inflation.
This year when considering your annual tax planning, it is more important than ever for multi-generation farming and grazing enterprises to be thinking about what their future is to look like and how the possible scenarios for farm succession could be planned for, in the most financially effective way.
To achieve a level of comfort around accepting the financial position imposed by any proposed plan, farm successors need to know exactly how addressing the identified wants of an exiting generation will impact their future viability.
Piling up a lot of debt could leave your business in financial difficulty or, worse, bankrupt. Here are five ways that may help you manage debt and avoid a financial mess.