From Where I'm Sitting...
By Brendan Taylor
July 2026
Every July I take some time to reflect on the year that's been and the one that lies ahead.
Over the past twelve months I've probably spent more time than ever before on farms, in factories, workshops, construction sites and boardrooms across the state and beyond.
When you spend your days alongside hundreds of businesses across agriculture, manufacturing, construction, transport, tourism, retail and professional services, you begin to notice patterns.
So, rather than another economic commentary, I thought I'd simply share... From where I'm sitting, this is what I'm seeing.
From where I'm sitting... Australian businesses are remarkably resilient.
On paper, the past twelve months shouldn't have been easy.
We've faced:
Higher interest rates.
Ongoing cost-of-living pressures.
Housing shortages.
Sticky inflation.
Global conflict in Ukraine and the Middle East.
Supply chain uncertainty.
Political uncertainty at home.
Rapid technological change.
If someone had predicted all of that twelve months ago, most economists would probably have forecast a significant slowdown.
Yet that's not what I've seen.
Good businesses have adapted. Good leaders have adjusted. Good people have found opportunities.
Resilience continues to surprise me.
From where I'm sitting... planning has become one of the biggest competitive advantages.
The businesses performing best aren't necessarily the biggest. They're the ones making decisions before circumstances force them to.
They typically have:
Clear budgets and forecasts.
Regular management reporting.
Strong cash flow discipline.
A willingness to challenge old ways of doing things.
Leadership teams that communicate well.
They also adapt along the way when things don’t go according to plan.
From where I'm sitting... the businesses embracing change are pulling away from the pack.
Every business is dealing with change.
Artificial Intelligence.
Labour shortages.
Higher wages.
Changing customer expectations.
Government regulation.
Employee expectations of flexibility and balance.
The businesses asking, "How do we adapt?" are generally the ones moving ahead.
From where I'm sitting... Western Australia continues to quietly outperform.
Mining remains a powerhouse.
Tourism continues to perform well.
Manufacturing and construction appear to have grown and found further efficiencies.
Agriculture has once again shown resilience.
The live sheep export announcement understandably created significant uncertainty across regional WA.
Yet producers have adapted.
Beef prices have strengthened.
Sheep meat prices have improved.
Wool has enjoyed a welcome recovery.
Grain production has generally been solid despite relatively modest grain prices and continued pressure from fertiliser and other input costs.
Farmers have always been among Australia's best problem-solvers.
This year has reminded me why.
From where I'm sitting... politics matters because certainty matters.
Whatever your political persuasion, business owners value one thing above almost everything else. Certainty.
Businesses invest when they are confident and understand the rules.
Recent discussion around capital gains tax concessions, trust taxation and other possible reforms has naturally created uncertainty and so many questions.
Australia's political landscape isn’t providing much confidence, with Labor appearing to be unchallenged. Although we are seeing growing support for independents & minor parties, and the Liberals are trying to rebuild. This will hopefully put on the required pressure so that we don’t see another Federal Budget like the last one.
I fear the consequences of the May Federal Budget will be felt by businesses and investors, and consequently the consumer and employee for many years to come
From where I'm sitting... Artificial Intelligence is no longer a future conversation.
Twelve months ago people were asking, "Should I be using AI?"
Today they're asking, "Where else can I use it?"
Every week we're seeing businesses save hours of administration, improve communication, analyse information faster and make better decisions.
No one knows exactly where AI will take us over the next decade. But I think it's already clear that it will change almost every profession, including ours.
From where I'm sitting... households are beginning to change their behaviour.
After several years of rising costs, we're starting to see consumers becoming more deliberate.
People are still spending. They're simply thinking harder before they do.
For businesses, that means value, service and customer experience have never been more important.
So what might the next twelve months look like?
History has shown me that anyone who makes predictions on the year ahead is stepping on dangerous ground, but from where I'm sitting:
I think businesses will continue to prove more resilient than many expect.
I expect planning and cash flow management and data will become even more important.
AI will move from being a competitive advantage to simply being part of everyday business.
Western Australia will remain one of Australia's strongest economies.
Agriculture has reasons to remain optimistic, despite continuing input cost pressures.
Housing supply will remain one of Australia's biggest economic and political challenges.
I will go against the grain here and suggest that interest rates may ease gradually. I struggle to see how many households could absorb another increase after the last three hikes.
Given all of that, from where I’m sitting… that all gives me every reason to be optimistic about the year ahead.
On behalf of all of us at Lincolns, thank you for the trust you place in us. We look forward to continuing to work alongside you and wish you all the best in the year ahead.
Tax Time Myth Busting
It's that time of year when tax myths start doing the rounds again.
"I can claim all my car expenses."
"I earn under the threshold so I don't need to lodge."
Sound familiar?
Every tax season, we hear the same misconceptions, and following the wrong advice can lead to costly mistakes. We've broken down three of the most common tax myths and what the rules actually say, helping you approach tax time with confidence.
If you're unsure what applies to your situation, our team is here to help.
