Drought Declared in South East Qld - Drought Assistance Available

Posted by: Kylie Wilson

 South East Queensland is now drought declared.  The State Government has confirmed that primary producers in the south east corner may qualify for drought assistance after the area was declared drought-stricken from 1 August.   For more information please see the attached media statement from the Minister for Agriculture, Fisheries and Forestry.

Qld Drought Map 1 Aug 2014

Media Release - Minister for Agriculture, Fisheries and Forestry

 

News from the North

Posted by: Kylie Wilson

I've just returned to Brisbane from a trip to visit clients in North Queensland, flying in and out of Townsville and Mackay.  It's been a few years since I've ventured that far north and the weather was perfect, at least for a trip to visit client businesses.  Sadly for many primary producers the drought continues and visits like this just highlight the pressure on farming enterprises and the flow on effects to the communities that support them.  Fingers crossed for more rain soon, in the meantime I did appreciate the view of Magnetic Island from my hotel room in clear weather!  If we had a visited office up there I think I would have to migrate for the winter…

Producers can apply for Farm Finance from August 16

Posted by: Kylie Wilson

Many of our rural clients, particularly in the beef cattle industry, have had a difficult twelve months thanks to plummeting cattle prices and lack of rain. There may therefore be some interest in the restructure package being offered by QRAA, details of which are in the attached link.  

www.qraa.qld.gov.au

Below is the link the government media statement.

http://statements.qld.gov.au/Statement/2013/8/6/producers-can-apply-for-farm-finance-from-august-16

Can a defective Will be validated?

Posted by: Tony Allen

 We cannot emphasize enough the importance of having a properly prepared and current Will to ensure that your estate is distributed according to your wishes, however, the absence of a properly prepared will may not always be as catastrophic as you might expect. 
In Queensland section 10 of the Succession Act 1981 ["Act"] provides that a will must be in writing, signed by the testator in the presence of 2 or more witnesses present at the same time and signed by at least 2 witnesses in the presence of the testator.  Amendments to the Act in 2006 empowers the Court to dispense with the formal execution requirements for a will 'if the court is satisfied that the person intended the document...to form the person's will' and the document 'purports to state the testamentary intentions of a deceased person '.
In a recent case in which our Tony Allen successfully represented the executors of an estate who applied to the Court to validate the deceased's last will which failed to meet the formal execution requirements.  In this case, the deceased hand wrote and signed a document which she described as her will and then signed the document in the presence of her sister but there wasn't a second witness as required by the Act.  The executors of her estate wanted to ensure that the estate would be distributed in accordance with the deceased's wishes and instructed the firm to bring an Application to the Court to dispense with the strict compliance with the execution requirements.  Justice Lyons found that the deceased intended the document to be her will and made an order that the handwritten document was the deceased's will notwithstanding that it had been signed in the presence of only one witness.
To read Justice Lyons' decision, go to http://www.sclqld.org.au/caselaw/QSC/2014/158.
What this case demonstrates is that sometimes an informal will can be validated by the Court, however, the costs of investigating the circumstances of the informal will and of bringing a formal application to the court when combined with the associated delays in the administration of a deceased estate, clearly demonstrate the importance of having a will properly prepared in accordance with the requirements of the Act.

State Government urges graziers to prepare for El Niño

Posted by: Kylie Wilson

PRESS RELEASE: Minister for Agriculture, Fisheries and Forestry The Honourable John McVeigh

Graziers urged to prepare now as El Nino looms

Agriculture Minister John McVeigh is urging producers affected by drought to begin sourcing molasses and putting other measures in place now to deal with an expected El Nino weather pattern in the coming months.

“Unfortunately for Queensland, after 18 months of severe drought there is no sign of a reprieve and we must prepare ourselves for the possibility of a delayed wet season,” Mr McVeigh said.

“This Government first announced a drought assistance program in May 2013 and we will continue to assist our farmers through this tough time.”

“About 75 per cent of the state is drought declared. The latest advice from the Bureau of Meteorology is that an El Nino pattern is expected to develop, increasing the likelihood of the current drought conditions continuing into 2015.

Mr McVeigh said graziers should start planning accordingly.

“Now is the time to reassess pasture and cattle numbers and develop a dry season plan,” he said.

“Plan ahead for supplements and molasses, establish contracts or purchase when there is greater availability and lower prices.

“Federal Government drought concessional loans are also available for a term of five years with interest rate of four per cent. The loans will be for up to 50 per cent of eligible farm business debt, to a maximum of $1 million. Farmers should contact QRAA for further information on Freecall 1800 623 946 or visit www.qraa.qld.gov.au.”

AgForce general president Ian Burnett said he supported the call for primary producers to take steps to secure supplementary feed for the anticipated ongoing dry.

“Queensland has been severely impacted by this drought and all forecasts indicate we are in for another tough 12 months ahead,” Mr Burnett said.

“It is imperative that we look to secure supplies now to avoid missing out on molasses and other feedstuffs when it is too late.

“While we hope it rains and this feed will not be required it is better to have the molasses in the tank and to prepare for the worst case scenario.”

[ENDS] 06 July 2014  

Additional information

Where to source molasses -

Bundaberg Molasses Freecall: 1800 777 097 

Wilmar Sugar Molasses Sales Burdekin Agent - Performance Feeds Pty Ltd Contact: Joan Warren (07) 4782 5995

Tully Sugar Contact: Camille Clarke (07) 4068 4715

Advice for livestock owners:

• wean any calves and look at what supplements may be needed
• weaning calves down to three months of age will help cows maintain condition
• adjust stock numbers according to currently available pasture and water supplies to see you through to the next wet season. Dry season forage budgeting videos can be viewed at http://futurebeef.com.au/resources/multimedia/#GLM
• sell higher risk and less profitable stock such as pregnancy tested empty and late calving cows
• cull heifers, old cows, and those with poor temperament
• tools to help assess the cost of selling versus feeding and costing nutrients, production feeding or putting stock into a feedlot are available at http://futurebeef.com.au/topics/business-management/beef-business-tools/
• consider the cost of nutrients, moisture content, risks, chemical and weed vendor declarations.
• Federal Government drought concessional loans now available. Farmers should contact QRAA for further information on Freecall 1800 623 946 or visit www.qraa.qld.gov.au.”

Maps of the drought declared areas and the boundary descriptions can be found at www.longpaddock.qld.gov.au

Changes to Sustainable Planning (Infrastructure Charges) and Other Legislation Amendment Act

Posted by: Megan Tilbrook

State Parliament passed the Sustainable Planning (Infrastructure Charges) and Other Legislation Amendment Act 2014 last Wednesday night seeking to resolve some of the key concerns raised by both the industry and local governments about the infrastructure charging regime.  A link to the media statement from the Department of State Development, Infrastructure and Planning can be accessed using the following link: http://www.dsdip.qld.gov.au/news-media-events/media-releases.html

A link to the Amendment Bill can be found using the following link:

 https://www.legislation.qld.gov.au/Bills/54PDF/2014/SustPlanInfraChargeOLAB14.pdf

We are hopeful that the amendments will have an impact on addressing some of the issues raised by our clients in relation to this always relevant, and often costly issue.

Latest Herron Todd White Property Report

Posted by: Scott Thompson

The end of the financial year helps bring money matters into focus. Whether it’s tying up the tax return or a serious assessment of our investment strategies, June has a history of bringing dollars to the fore. 2014 has been a year of great expectations for property markets in most big centres, so its timely that Herron Todd White professionals give their opinions on what has happened so far this year in residential and retail markets. It’s also interesting to read where these sectors might head coming into the last half of the year, particularly if a stronger economy results in interest rate gains. In this edition:

• Feature – Half time! Bring out the oranges
• Commercial –  Retail
• Residential
• Rural
• Market Indicators

Read more.