From the Principal’s Desk – Fabbro Talks (July 2023)
Welcome to the July edition of our Newsletter and happy new financial year also!
In the usual hectic rush to the end of financial year June 30 deadline, it was nice for it to fall on a Friday to have the weekend to breathe and get ready to re-set for Monday.
Despite dire predictions of a dry and warmer winter than usual due to the apparent coming of the El Nino effect, replacing the La Nina which has seen good wet winters and great productivity from our agricultural sector, we have enjoyed a very wet June. A great start for our farmers, many of whom make up a valuable part of our client base here at Ezra.
Living in the Adelaide Hills means I get to see a fair bit of rain, but June bore witness to some of the heaviest rain events I’ve witnessed since living in the Hills for nearly twenty years. The volume of water moving over the ground and creating mini waterfalls here and there was quite the sight.
I am somewhat surprised that the weather forecasters can seemingly get it so wrong in forecasting only a few months ahead but can be so certain about long term impacts of changes to the weather. Apparently, we have a “positive Indian Ocean Dipole” which has caused the predictions wrong and seen heavy rains right across Australia and particularly throughout central Australia. I’m hopeful that those of our clients who eke out a living in the more arid parts of our great land, have enjoyed a good start to the season with the rains coming in their regions also.
We had a surge of work in restructuring people’s affairs to allow for the transition of generational farming operations from the current generation to the next. It is interesting and encouraging to watch the next generation eagerly step up to the plate to continue the legacy built over decades, and in some cases more than a hundred years, established by their forefathers who with great hardship created farming operations out of nothing.
With the value of arable farmland ever increasing, it is a significant step to move the valuable operations through the generations, and one we take very seriously. Careful thought needs to be put into the process to ensure a smooth and importantly ‘safe’ transition.
The Voice continues to dominate the political landscape interspersed by other distractions. The Ashes series continues to throw up controversy with cricketers apparently playing at the highest level somewhat unsure about when a catch is a catch, or when the ball is dead. The poor Englishmen are none too happy, and the London elites in their lovely striped jackets and ties forgot themselves for a moment and thought they should embrace the spirit of the Barmy Army when enjoying the rare honour of having the Australian opposition parade past them through the Long Room.
We are on the lookout for a commercial lawyer to join team Ezra, so if you know anyone, or have a family member, who may be interested and have good commercial acumen and would pass the famous Geelong “no d-heads policy” point them our way, we’d love to have a chat to them.
Other than that, I wish you all health, happiness and motivation as we cast-off into another financial year and look forward to it being successful for all of our clients. It’s a good time to take pause and have a ‘stocktake’ of your affairs and reflect on where improvements can be made, or matters need to be addressed.
If your ‘stocktake’ raises questions or concerns in areas where we may be able to assist, feel free to give us a call, as we say… we’re here to help!
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