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The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero. According to election guru Antony Green, the window for the next election starts on Saturday, 3 August 2024, “the first possible date for an election if writs are issued on 1 July." "The election window will stay open until mid-May 2025, the last date being 17 or 24 May.” No doubt, the Government will have the election in mind when it presents the Budget on 14 May at 7.30pm AEST. Stage 3 tax cuts The redesigned stage 3 tax cuts have been passed by Parliament and will apply from 1 July 2024. The amendments broadened the benefits of the tax cut by focussing on individuals with taxable income below $150,000. Investment incentives for small business It remains to be seen whether an increased instant asset write-off threshold will apply to smaller businesses in the 2024-25 income year. The increased threshold to $20,000 announced in the 2023-24 Budget still has not passed Parliament (the Senate increased the threshold to $30,000). If the intent of this measure is to encourage investment, it is essential that legislation enabling these measures is passed by Parliament in a reasonable time to give business operators the certainty they need to commit to any additional investment spending. Energy bill relief The Prime Minister has hinted at another round of energy bill relief to ease cost of living pressures for low-income households and small business. The measure is subject to support from State and Territory governments. Look out for our analysis on how the 2024-25 Federal Budget will impact you, your business, and your superannuation.

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business really worth and what sets a high-value business apart? Every business owner is naturally curious about just how much their business is worth.  However, for every business that sells at an attractive price, there are others that struggle to sell, let alone fetch a premium. The question is, what makes a difference? When you come to sell a business the first question is, what are you selling? In most cases, this is fixtures and fittings, plant and equipment, stock on hand, and the goodwill of the business. Generally, a buyer won’t want to purchase your liabilities or your business structure, nor will they want to collect your outstanding debtors. Most business sales become a sale of business assets. These assets are relatively easy to value with the exception of the goodwill. The value of plant and equipment and trading stock can generally be agreed. The tension tends to be around the value of the goodwill because goodwill is made up of many intangible assets that can’t be readily quantified. We can all agree that there is value in these assets but the question is, how much? Goodwill is basically the value of the future free cash flow of the business.  Based on how your business is structured, it is the value of the profits the business can generate in the future. This is what a buyer is prepared to pay for. If a buyer has a reasonable certainty of profits and free cash flow in the future, then this is worth something. By comparison, a start-up business will have a higher level of risk and no certainty that profits can be generated. In general, a new business may need to trade for a number of years at a loss before it can establish itself and generate profits.  Goodwill is what you are prepared to pay to avoid the risk and the ‘time to establish’ factor. So, what influences business value and what will people pay for? A history of profits, profits, and more profits Returns on capital invested (better than 30%) Strong growth and growth prospects Brand name and value A business not dependent on the owners A strong, verifiable customer list Monopoly income – exclusive territories A sustainable competitive advantage Good systems and procedures It is possible to get a price that is widely different from the norm. Unique businesses, unique circumstances, and unique opportunities can always produce ‘an out of the box’ price. If you can build something unique, then you may achieve a price beyond normal expectations. At the end of the day however, the market will set the price. If you are planning on selling your business, identify who your buyers might be. There could be a purchaser who is prepared to pay a large premium to own your business because of the accretive value or because it is pivotal to their growth strategy. And, even if you are not thinking about selling your business, the reality is that one day you will. If you build your business with this in mind, then you should look to do the things that will grow your business value from year to year. With a wealth of experience in top-level management, business consulting, mentoring and government advisory roles, Collins Hume Senior Business Adviser Nathan McGrath can bring his unique blend of skills and insights to your business. Don't wait for tomorrow; now is the time to start working on your business. In his role, Nathan urges businesses to seize the moment and prioritise their growth. Call Nathan today on 02 6686 3000 or click to send an email:

Having a solid strategy in place ensures maximum tax efficiency while adhering to relevant laws. Small business owners and individuals are now in the tax planning window as the end of the financial year approaches. Engaging in tax planning offers several benefits: It can reduce tax liability by leveraging deductions and credits, freeing up cash for reinvestment or debt repayment. Expert guidance enables taxpayers to maximise savings through strategies like super contributions and asset write-offs. Moreover, tax planning prevents costly errors. Working with professionals at this time of year ensures compliance and minimises the risk of penalties, fines or audits for business or farm owners unfamiliar with tax laws. Our purpose is to inspire business owners to achieve success in powerful and meaningful ways. By working with Collins Hume, you can develop a comprehensive tax strategy that helps you achieve your financial goals and grow your business. To book a detailed analysis of your tax position well ahead of 30 June, call our tax team in Ballina or Byron Bay on 02 6686 3000.

The Fringe Benefits Tax year (FBT) ends on 31 March We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to employees without incurring the 47% fringe benefits tax (FBT) on private use. The exemption applies to the use of electric cars, hydrogen fuel cell electric cars or plug-in hybrid electric cars if: The value of the car is below the luxury car tax (LCT) threshold for fuel efficient vehicles ($89,332 for 2023-24 financial year) at the time it is first sold in a retail sale; and The car is both first held and used on or after 1 July 2022. If your business is planning on acquiring an electric vehicle, be aware that from 31 March 2025, the FBT exemption will no longer apply to plug-in hybrid electric vehicles unless the vehicle met the conditions for the exemption before this date and there is already a binding agreement to continue to use the vehicle privately after this date. The problem areas The exemption only applies to employees - For the FBT exemption to apply, the vehicle needs to be supplied by the employer to an employee (including under a salary sacrifice agreement). Partners of a partnership and sole traders are not employees and cannot access the exemption personally. If LCT applies to the car it will never qualify for the FBT exemption. For example, if the EV failed the eligibility criteria in 2022-23 when it was first purchased because it was above the luxury car limit of $84,916, the fact that it resold in 2023-24 for $50,000 does not make it eligible for the exemption on resale. Likewise, if the car was used by anyone (including a previous owner) before 1 July 2022 then it will probably never qualify for the FBT exemption. Home charging stations are not included in the exemption. The FBT exemption includes associated benefits such as registration, insurance, repairs or maintenance, but it does not include a charging station at the employee’s home. If the employer installs a home charging station at the employee’s home or pays for the cost, then this is a separate fringe benefit. FBT might not apply but you do the paperwork as if it did. While the FBT exemption on EVs applies to employers, the value of the fringe benefit is still taken into account when working out the reportable fringe benefits of the employee. That is, the value of the benefit is reported on the employee’s income statement. While you don’t pay income tax on reportable fringe benefits, it is used to determine your adjusted taxable income for a range of areas such as the Medicare levy surcharge, private health insurance rebate, employee share scheme reduction, and certain social security payments. What about the cost of electricity? The ATO’s short-cut method can potentially be applied to calculate reportable fringe benefit amounts and applies a rate of 4.20 cents per kilometre. If you are not using the short-cut method, you need to have a viable method of isolating and calculating the electricity consumption of the car. The exemption does not apply if the employee directly purchases or leases the EV. If an employee purchases or leases the EV directly, and the employer reimburses them under a salary sacrifice arrangement, the FBT exemption does not apply because this is not a car fringe benefit. However, the exemption can potentially apply to novated lease arrangements if they are structured carefully. Not all electric vehicles are cars. To qualify for the exemption, the EV needs to be a car – electric bikes and scooters do not count, nor do vehicles designed to carry a load of 1 tonne or more or that carry 9 passengers or more. Other FBT problem areas Not registering. If you have employees, it is unusual not to provide at least some fringe benefits. If your business is not registered for FBT but you have provided entertainment, salary sacrifice arrangements, forgiven debts, paid for or reimbursed private expenses, or have provided accommodation or living away from home allowances, it’s important that the FBT position is reviewed carefully. The ATO targets businesses that aren’t registered for FBT. When employees travel. There has been a renewed focus recently on whether employees are travelling in the course of performing their work (deductible and not subject to FBT) or travelling from home to their place of work (not deductible and subject to FBT). The Federal Court decision in the Bechtel Australia case is a good example. The case dealt with the travel of fly-in-fly-out workers between home and their worksite - involving flights, ferry and bus travel. The Court found that the employees were travelling before they commenced their shift and that the employer was liable for FBT in connection with the transport that was provided. The case highlights the need for employers to ensure that they are fully aware of the connection between work and travel. How to contact us We’re available to assist you with tax planning including tax deductions. Contact Collins Hume Accountants & Business Advisers in Ballina or Byron Bay on 02 6686 3000.

How to take advantage of the 1 July super cap increase From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from $110,000 to $120,000 for non-concessional contributions. The contribution caps are indexed to wages growth based on the prior year December quarter’s average weekly ordinary times earnings (AWOTE). Growth in wages was large enough to trigger the first increase in the contribution caps in 3 years. Other areas impacted by indexation include: The Government super co-contribution – Income threshold The super guarantee maximum contribution base (the limit for compulsory super guarantee payments) The tax-free thresholds for redundancy payments The CGT contribution cap (amount that can be contributed to super following the sale of eligible business assets) For those with the disposable income to contribute, superannuation can be very attractive with a 15% tax rate on concessional super contributions and potentially tax-free withdrawals when you retire. For business owners who might have had an exceptional year or sold their business, it's an opportunity to get more into super. However, the timing of contributions will be important to maximise outcomes. If you know you will have a capital gains tax liability in a particular year, you may be able to use ‘catch up’ contributions to make a larger than usual contribution and use the tax deduction to help offset your capital gain tax bill. But, this strategy will only work if you meet the eligibility criteria to make catch up contributions and you lodge a Notice of intent to claim or vary a deduction for personal super contributions, with your super fund. Using the bring forward rule The bring forward rule enables you to bring forward up to 2 years’ worth of future non-concessional contributions into the year you make the contribution – this is assuming your total superannuation balance enables you to make the contribution and you are under age 75. If you utilise the bring forward rule before 30 June, the maximum that can be contributed is $330,000. However, if you wait to trigger the bring forward until on or after 1 July, then the maximum that can be contributed under this rule is $360,000. ‘Catch up’ contributions If your super balance is below $500,000 on the prior 30 June, and you want to quickly increase the amount you hold in super, you can utilise any unused concessional super contributions amounts from the last 5 years. Let’s look at the example of Gary who has only been using $15,000 of his concessional super cap for the last few years. Gary’s super balance at 30 June 2023 was $300,000, so he is well within the limit to make catch up contributions. Gary could access his $27,500 concessional cap for 2023-24 plus the unused $55,000 from the prior 5 financial years. If Gary doesn’t access the unused amounts from 2018-19 by 30 June 2024, the $10,000 will no longer be available. Transfer balance cap unchanged The general rate for the transfer balance cap (TBC), that limits how much money you can transfer into a tax-free retirement account, will remain at $1.9 million for 2024-25. The TBC is indexed by the December consumer price index (CPI) each year. How to contact us It's important to speak with a financial professional before taking any action on tax and superannuation strategies. Contact Collins Hume Accountants & Business Advisers in Ballina or Byron Bay on 02 6686 3000.

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was that many had no idea that the tax debt existed. The ATO can only release a taxpayer from a tax debt in limited situations (e.g., where payment would result in serious hardship). However, sometimes the ATO will decide not to pursue a debt because it isn’t economical to do so. In these cases, the debt is placed “on hold”, but it isn’t extinguished and can be re-raised on the taxpayer’s account at a future time. For example, these debts are often offset against refunds that the taxpayer might be entitled to. However, during COVID, the ATO stopped offsetting debts and these amounts were not deducted. In 2023, the Australian National Audit Office advised the ATO that excluding debt from being offset was inconsistent with the law, regardless of when the debt arose. And by this stage, the ATO’s collectible debt had increased by 89% over the four years to 30 June 2023. The response by the ATO was to contact thousands of taxpayers and their agents advising of historical debts that were “on hold” and advising that the debt would be offset against any future refunds. These historical debts were often across many years, some prior to 2017, and ranged from a few cents to thousands of dollars. For many, the notification from the ATO was the first inkling they had of the debt, because debts on hold are not shown in account balances as they have been made “inactive”. In other words, taxpayers were accruing debt but did not know as the debts were effectively invisible because they were noted as “inactive.” In a recent statement, the ATO said: “The ATO has paused all action in relation to debts placed on hold prior to 2017 whilst we review and develop a pragmatic and sensible way forward that takes into account concerns raised by the community. It was never our intention to cause frustration or concern. It’s important to us that taxpayers have trust in our tax system and our records.” For any taxpayer with a debt on hold, it is important to remember that just because the ATO might not be actively pursuing recovery of the debt, this doesn’t mean that it has been extinguished. Small business tax debt blows out Out of the $50bn in collectible debt owing to the ATO, two thirds is owed by small business. As of July 2023, the ATO moved back to its “business as usual” debt collection practices. For entities with debts above $100,000 that have not entered into debt repayment terms with the ATO, the debt will be disclosed to credit reporting agencies. If your business has an outstanding tax debt, it is important to engage with the ATO about this debt. Hoping the problem just goes away will normally make things worse.

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024. Before the new tax rates come into effect, check any salary sacrifice agreements to ensure that they will continue to produce the result you are after. Resident individuals Non-resident individuals Working holiday makers If you have any concerns or queries about the impact of the proposed changes please contact Collins Hume in Ballina on Byron Bay on 02 6686 3000.

Can my SMSF invest in property development? Australians love property and the lure of a 15% preferential tax rate on income during the accumulation phase, and potentially no tax during retirement, is a strong incentive for many SMSF trustees to dream of large returns from property development. We look at the pros, cons, and problems that often occur. An SMSF can invest in property development if trustees ensure the investment complies with the rules. And, there are a lot of rules. A key is the sole purpose test. Trustees need to ensure the fund is maintained to provide benefits for retirement, ill health or death​. Breaches of this fundamental tenet are serious and include the loss of the fund’s concessional tax treatment and civil and criminal penalties. By its nature property development is high risk and fund trustees need to ensure that the SMSF is not simply a handy cash-cow for a pipe dream, particularly when the developers are related parties. There are multiple ways an SMSF can invest in property development if the investment strategy of the fund allows: Directly developing property An ungeared unit trust or company (the parties can be related) Investment in an unrelated entity A joint venture Directly developing property from fund assets An SMSF can purchase land from an unrelated party and develop the property in its own right. Common issues that often arise include: Acquiring the land from a related party - An SMSF cannot purchase land from a related party (unless it is business real property used wholly and exclusively in a business). This means that the lovely block of land inherited by one of the members, or owned by a family trust, that is perfect for development cannot be purchased by the SMSF. An SMSF cannot borrow to develop property – An SMSF can borrow money to purchase land using a limited recourse borrowing arrangement but it cannot use a loan to improve the asset. That is, borrowings cannot be used to develop the land. And, where the SMSF has borrowed to purchase land, it cannot change the nature of that asset until the loan has been repaid. That is, no development. Who will develop the property? Problems often occur when the property developers are related to the fund members. Whilst it is possible to engage a related party builder to undertake the work, there are strict rules that mean that the work and materials must be acquired at market value. That is, there is no advantage from “mates rates”. If you are using a related party builder, ensure that the paperwork is pristine, any transactions are at market value, and all interactions are documented. GST might apply - Goods and services tax might apply to the development and the sale of any developed property. If the ATO considers that an SMSF is in the business of developing property or is undertaking a one-off development in a commercial manner then GST could potentially apply. If your SMSF is not undertaking a property development project in its own right, there are a few ways for an SMSF to invest in property development projects: Related ungeared trust or company An ungeared company or trust is often used (under SIS Regulation, section 13.22C) when related parties want to invest in a property development together. The SMSF can invest in a company or trust that is undertaking a property development as long as the company or trust: Does not lease to a related party (unless business real property) Does not borrow money or have borrowings (must be ungeared) Does not conduct a business Conducts any dealings at arm’s length And, the assets of the unit trust or company: Do not include an interest in another entity (i.e. cannot have shares in a company) Do not have a charge over them (i.e. mortgage over any asset) Are not purchased from a related party (or was ever an asset of a related party) unless the asset is business real property acquired at market rates. Profits from the company or trust are then distributed to the SMSF according to its share. Using the provisions of 13.22C means that the SMSF can invest in property development with a related party without the development being considered an in-house asset. However, if the criteria are not met (at any point), the in-house asset rules apply, and the SMSF might have to sell the units in the trust or shares in the company to return to the maximum 5% in-house asset limit. Generally, this means the sale of the underlying property or a significant restructure. Problems arise with 13.22C arrangements where the trust or company: Needs more money to complete the development and borrows money, or issues more units and sells them (is in business) Accepts a loan from a member of the SMSF Overdrafts (may be considered loans and breach 13.22C) Uses a related party builder who either under charges for the work completed or overcharges and strips the profits that should have been returned to the SMSF. Warning on conducting a business One of the criteria for the exemption in 13.22C to apply is that the trust or company cannot be conducting a business. This requirement may prevent short-term property developments that are built and sold for profit. Typically, 13.22C arrangements are used for long term investments where the development enables the creation of an asset that is then leased by the trust or company. This could be commercial premises leased to a related or unrelated party (e.g., premises for a child care centre or manufacturing), or residential premises leased to unrelated parties (e.g., townhouses or small developments). Unrelated property developments Investing in unrelated entities for a property development is attractive as there is no limit to how much of the fund’s assets can be invested (subject to the investment strategy and trust deed allowing the investment), and unlike ungeared entities, the entity is able to borrow money/place charge over the assets. Where related parties are investing in the same entity, there are rules governing the percentage of ownership the SMSF and their related parties can hold. To meet the definition of unrelated entity for in-house asset purposes, the SMSF and their related parties must not own more than 50% of the units available. This is because the SMSF cannot control or hold sufficient influence over the entity and remain an unrelated entity. If the ATO considers the entity is related to the SMSF, then it would become a related party and the investment an in-house asset. Joint venture arrangements An SMSF can potentially invest in a joint venture (JV) property development, but the criteria are necessarily strict and there are a range of issues that need to be considered carefully. One of the issues that needs to be considered up-front is determining the substance of the arrangement between the parties, because the term JV can be used to describe a variety of arrangements. The ATO confirms that care must be taken to ensure that arrangements with related parties are true JVs. Under a JV, the SMSF invests in and has a share of the property being developed (not the entity undertaking the development). Each party bears the costs (time and/or money) of the JV and receives this same proportionate contribution from the returns. If the arrangement is not structured properly then the SMSF’s stake in the JV could be treated as an investment in or loan to a related party and be treated as an in-house asset. For example, this could be the case if the SMSF only provides a capital outlay for the arrangement and has no rights other than a contractual right to a return on the final investment. It is also necessary to consider whether the arrangement between the parties could be treated as a partnership for tax, GST and legal purposes. For example, this could be the case if the arrangement involves the sharing of income, sale proceeds or profits, rather than sharing the output from the project. It's essential to get advice well in advance - tax, legal and financial - before pursuing a JV. Is your SMSF the best vehicle for property development? Trustees need to carefully consider any investment decisions and have a sound rationale for the investment. Any advice on a property development needs to be from a licenced financial adviser. A lawyer should be used for any contracts or agreements between parties. And, compliance assistance from a qualified accountant. How to contact us We’re available to assist with advice on your self-managed superannuation. Contact Collins Hume Accountants & Business Advisers in Ballina on Byron Bay on 02 6686 3000. Note: The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained.

Just because an agreement states that a worker is an independent contractor, this does not mean that they are a contractor for tax and superannuation purposes, new guidance from the ATO warns. Where there is a written contract, the rights and obligations of the contract need to support that an independent contracting relationship exists. The fact that a contractor has an ABN does not necessarily mean that they have genuinely been engaged as a contractor. The ATO says that “at its core, the distinction between an employee and an independent contractor is that: an employee serves in the business of an employer, performing their work as a part of that business an independent contractor provides services to a principal's business, but the contractor does so in furthering their own business enterprise; they carry out the work as principal of their own business, not part of another.” Contracts over time The ATO points out that a contracting agreement at the start of a relationship may not continue to be one over time. For example, if the project the contractor was engaged to complete has finished, but the worker continues working for the company then the classification needs to be revisited. What happens if there is no contract? If no contract exists, then it’s important to look at the form and substance of the relationship to come to a reasonable position about whether an employment or contractor relationship exists. How to contact us We’re available to assist you with the employee classification. Contact Collins Hume Accountants & Business Advisers in Ballina on Byron Bay on 02 6686 3000.

Apply for up to $1,000 towards the cost of workplace health and safety items Rebate information Status: Ongoing Grant amount: Up to $1,000 Who can apply: Small business owners and sole traders who have an ABN and fewer than 50 full-time employees. Charities and not-for-profits can also apply. Program objective If you are a small business owner in NSW, this $1,000 rebate will help you purchase safety items to improve work health and safety for you and your workers. Eligibility The application must be in the name of the registered business owner. The registered business owner must agree to the terms and conditions. Who can't apply Businesses that have already received the rebate in the past five years. This includes businesses that have multiple ABNs and have already used one of their ABNs to claim a rebate a co-owner of an ABN where a rebate has already been paid to one owner (you can only use the same ABN once) large businesses that have more than 50 employees business owners that have already received a rebate for the eligible safety item from any Commonwealth, State, Territory or local government subsidiary of a larger business, government departments, councils and voluntary associations. Program is funded and administered by SafeWork NSW.

Estate planning and family wealth protection resolutions for 2024 As 2024 unfolds, prioritising estate planning and family wealth protection has never been more crucial. Taking action on some key resolutions can offer relief from the stress around uncertainty. Here are our top resolutions to ensure the security of your family's future. 1. Create or Update Your Will Your will forms the bedrock of your estate plan. If you don't have one, make it a priority to draft one this year. If already in place, review and update it to align with your current wishes and circumstances. 2. Establish EPOA Designate someone to manage your affairs in case of incapacity using an Enduring Power of Attorney is a critical measure applicable to individuals of all ages. 3. Review Beneficiaries Sense check the beneficiaries listed on your life insurance, superannuation and other financial products to reflect changes in relationships and preferences. 4. Consider using trusts to create and protect your wealth Different trusts allow for the distribution of income and assets to heirs, avoiding the protracted and costly probate process. Testamentary Trusts offer significant tax benefits and allow for great asset protection for your spouse and children. 5. Organise Your Digital Assets Consider digital assets such as social media account credentials, digital currency account details and online banking to include in your estate plan. 6. Plan for Your Business's Future Develop a succession plan for your business, especially if you are the sole director or shareholder, ensuring smooth operation for the benefit of your family and employees. 7. Secure a Life Insurance Policy Review your existing life insurance policy to ensure it adequately meets your family's financial needs. 8. Tackle Your Tax Understanding Grasp the impact of estate taxes and implement strategies to minimise their effect on your assets. 9. Establish a Healthcare Directive Ensure your medical wishes are honoured through a Healthcare Directive and Living Will, particularly if you're unable to communicate them yourself. Embarking on these resolutions not only safeguards your family's wealth but also provides peace of mind, knowing you're prepared for whatever the future may hold. Estate planning isn't exclusive to the wealthy or elderly; it's for anyone wishing to protect loved ones and uphold their desires. Don't let another year pass without addressing these essential tasks. Yours and your family's future hinges on it. Given the complexity of estate planning, consult with Collins Hume’s specialists sooner rather than later to ensure legally sound plans are aligned with your wishes. Contact us in Ballina or Byron Bay on 02 6686 3000.

A Step Towards Sustainability and Koala Conservation On a lush macadamia farm in Brooklet, amidst the cooling rain, a few of the Collins Hume team recently embarked on a remarkable environmental initiative. Together we planted 100 eucalyptus trees at Farmer Rob's property, provided by the generous Friends of the Koala, we've further cemented our commitment to supporting local wildlife, particularly our precious local koalas. "This event underscores our dedication not only to our community but also to the broader goals of environmental stewardship and sustainability," said Partner Peter Fowler. Collins Hume's involvement in environmental initiatives extends beyond a single event. We're proud to affirm our commitment to 1% for the Planet, a testament to our ongoing dedication to environmental causes. By contributing 1% of our annual sales to nonprofit organisations focused on environmental protection, we're taking concrete steps towards making a significant, positive impact on our planet. Moreover, our efforts to achieve climate neutrality stand as a cornerstone of our environmental strategy. With climate-neutral certifications, we've meticulously offset our carbon footprint, ensuring that our operations contribute to the health of our planet rather than detract from it. This dedication reflects our broader commitment to sustainability and responsible business practices. The eucalyptus tree planting day is a vivid illustration of how we, as a community and as a business, can come together to support our local environment and wildlife. "Our heartfelt appreciation goes out to Friends of the Koala for their crucial support, Farmer Rob for hosting the event, and our team members who demonstrated their commitment by participating in this initiative despite the inclement weather," Peter added. Collins Hume is more than just a business; we are a team dedicated to making a difference in the world. We believe in taking actionable steps towards environmental conservation, supporting our local community, and aligning our operations with our values of sustainability and responsibility. We thank you for your continued support of Collins Hume, together we are making a difference. Read more here » #liveyourlegacy