Camden market gardener, Matthew Vella, knows firsthand the joys and challenges of running a farm. For him, growing a good crop is a “labour of love” that requires hard work and dedication. Matthew is a third-generation farmer who inherited the family business from his grandfather, a Maltese immigrant who started a vegetable farm when he moved to Australia.
Over the years, Matthew and his brother John expanded the farm and now employ 40 staff. However, they faced tax problems and realised that the structure of their business was not suitable for their needs. That’s when one of Matthew’s friends recommended Key Business Accountants, and Matthew reached out to Vlad, an expert in property ownership and tax complexities.
Vlad helped Matthew and his family set up a company and gave them advice on how to employ and sponsor seasonal workers. He also reviewed their 2020 tax return and found that they were missing out on some basic accounting practices, which cost them a significant amount of money. Thanks to Vlad’s expertise, Matthew and his family received a six-figure sum of money back from the Australian tax office.
For Matthew, having a quality accountant like Vlad is invaluable. “It’s not just putting numbers in, it’s the advice you get and where else to put the money or work the numbers,” he says. “You can literally make a whole bunch of money and pay it all out in tax, or you can shift money around and have it work for you, spend it in your business.”
Despite the challenges of running a farm, Matthew hopes to continue the family tradition and pass it on to the next generation. “The farm is a funny thing like that. It can continue to produce for generations,” he says. “But, yeah, we’d like to take a step back and either hand it over to the next generation if they are interested or employ people to continue the business.”
For Matthew, the farm is more than just a lifestyle; it’s a legacy that he hopes to preserve for years to come. And with the help of experts like Vlad, he is confident that the business will continue to thrive.
