There are definitely some perks to being a valuer. Like this day when I got to fly to Yuna. I was thrilled to leave behind the hustle and bustle of a city and treat my eyes to some breathtaking landscapes in WA.
Yuna is an established farming region- 130 kms North East of Geraldton in WA. The aim was to conduct a valuation for a Tax Depreciation Schedule on a property with substantial structural assets in beautiful country. But I was also excited to put a newly established Agri- Depreciation Portal into play. I had my highly experienced colleague Ross Sharp Regional director WA with me – again a rarity as most of the time we fly solo. Great company, a new tool to streamline our tax dep processes and an opportunity to witness nature at its best- I felt like a kid in a candy shop.
The property comprised a dryland cropping enterprise with circa 9500ha planted to mixed cereals. Farming can be so fickle. In April 2021 cyclone Seroja ripped through Indonesia killing 272 people, then down to Australia through the Yuna area, causing substantial widespread damage. It also destroyed the town of Kalbarri and Northampton and associated farming areas. The property in question lost close to a third of all structures on the farm, many uninsured. The event brought significant rainfall and flooding which came at seeding time. Farmers licked their wounds and jumped straight onto tractors putting in what is looking like being record-breaking crops for the region. Follow-up rains have been constant and well above average. The crops are now so advanced, it is a certainty that the best returns ever seen in the area will be the result. This was a case where luck was on their side and nature was kind to them.
A story that has not been the same for many in regional WA as I have seen my colleagues here at Acumentis being extremely busy undertaking insurance valuations and consultancy in the two damaged towns of Kalbarri and Northampton in WA.
This reconfirmed how our jobs in aiding owners with depreciation schedules and appropriate insurance valuations could safeguard them from the repercussions of a volatile market and prepare them to face the harshness of nature, which many Australians have faced at least once in their lifetime.
This one was a good day - to see a flourishing farm and we did take the time to enjoy the beautiful crop and some breathtaking wildflowers. I just hope more owners realise the value of protecting themselves with insurance valuations and tax depreciation schedules for better cash flow and enabling them to stack up against all odds when the chips are down.