Dalby’s booming ag puts it in Australia’s top 10

THE growing agricultural sector in the Western Downs has helped Dalby become one of Australia’s top 10 self-managed superannuation fund regional centres.

HUGE AG SECTOR: Dalby cotton and grain farmer Wayne Newton. Picture: Jeff Camden

DALBY'S booming agricultural sector has helped it become one of Australia's top 10 self-managed superannuation fund (SMSF) regional centres.

According to the latest data from superannuation firm Heffron, the area has one of the highest concentrations of SMSF trustees, advisers and accountants in Australia.

This reportedly due to the demand created by a growing number of privately owned agricultural businesses holding SMSFs.

Dalby is representative of a proportion of Australia's agricultural community that has proven resilient despite droughts.

High prices and strong production was expected to generate an average profit of $153,000 in the 2019/2020 financial year for the average Australian broadacre farm, with this being just four per cent below the 10-year average according to a report by the Department of Agriculture.

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The high volume of SMSF activity suggests many are managing their own superannuation with the support of the large numbers of advisers and accountants now servicing the area.

To help SMSFs keep abreast of the latest developments impacting SMSFs, Heffron has now moved its major events online to ensure they are accessible to those in regional areas.

Heffron Head of SMSF Technical & Education Services, Lyn Formica, is looking forward to reaching more people than ever before, including those in Dalby.

"We are really excited to be moving our education services online so we can offer regional SMSF advisers the same expert advice their city counterparts enjoy," she said.

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