The current drought that is spread over most of Australia is one of the worst we have seen in many years. Unfortunately the hard working rural communities of our nation are heavily affected by the drought season. Thankfully our government and supporting bodies have brought in a lot of financial grants and assistance to all those adversely affected by the drought.
Farm Household Allowance
In September 2019 the Australian Government radically simplified the application process for the Farm Household Allowance policy(FHA). The new legislation allows the following:
- Provides a lump sum Relief Payment for FHA recipients who have used their 4 years of payment by 30th June 2020.
- Allows farm business losses of up to $100,000 to offset income from other sources, and assesses together businesses or activities that directly correlate.
- Changes the time limit on FHA payments to 4 in every 10 years from 1st July 2024.
There are also further changes made to the legislation but these will not take effect until the middle of 2020. Please visit this link to find out more: https://www.agriculture.gov.au/ag-farm-food/drought/assistance/farm-household-allowance
Water for Fodder
The Water for Fodder program is offered for farmers connected with the southern Murry-Darling Basin to be able to purchase South Australian River Murry Water at a discounted rate. To find out more about the program visit this link: https://www.agriculture.gov.au/water/mdb/programs/basin-wide/water-for-fodder
This initiation offers rebates for on-farm water infrastructure expenses, helping producers and horticulture farmers in drought-affected areas. State and territory governments will administer and deliver these rebates, which are now available. To find out if you are eligible visit this link: https://www.agriculture.gov.au/water/national/on-farm-infrastructure-rebate
Regional Investment Corporation
The government offers farm investment loans to all rural farmers in Australia to improve the strength, resilience and profitability of farm businesses. Drought loans up to $2 million dollars are available for farmers in need of financial help in the right areas of Australia. Find out if you are eligible for a Government loan here: https://www.ric.gov.au/farmers