Financial support
Updates – 31 May
Seek financial advice and assistance prior to June 30
Farm business owners are advised to seek assistance from their accountant or professional advisor and/or speak with the Australian Tax Office about preparing their business for the end of the financial year.
Each farmer will have their own individual and business circumstances and it is important to seek advice prior to June 30 to discuss their best options especially in times of drought and dry seasonal conditions.
Service and support is also available from the Rural Financial Counselling Service by calling 1800 686 175 or by speaking to a local financial counsellor – offices are located across Victoria and counsellors can visit a business or residence to provide advice.
| Service | Phone | Location |
|---|---|---|
| Rural Financial Counselling Service – North East | 1300 834 775 or (02) 6057 5777 |
Head office: Wodonga Counsellors in Shepparton, Numurkah, Benalla and Seymour. |
| Rural Financial Counselling Service – North West | 1300 769 489 or (03) 5022 0799 |
Head office: Mildura Counsellors in Bendigo, Donald, Pyramid Hill and Swan Hill. |
| Rural Financial Counselling Service – Western | 1300 735 578 or (03) 5572 4540 |
Head office: Hamilton Counsellors in Ballarat, Cobden/Terang, Colac, Horsham and Warrnambool. |
| Rural Financial Counselling Service – Eastern | 1300 045 747 |
Head office: Leongatha Counsellors in Ellinbank, Maffra and Bairnsdale. |
Financial support programs
| Support | Description | More information |
|---|---|---|
Pasture Recovery and Management Grant Program | A grant of up to $5,000 (ex-GST) is available to assist eligible farm businesses implement pasture restoration and other land management activities that may aid in pasture recovery. Eligible farm businesses are required to provide at least dollar for dollar matching funding co-contribution. The program will accept applications for expenditure incurred on or after 1 January 2019. The program is available to eligible farm businesses located in East Gippsland and Wellington Shires. | Call Rural Finance on 1800 260 425 or visit ruralfinance.com.au. |
Farm Support Fund | The Farm Support Fund will provide a one-off support payment of $2,500 for non-dairy farm businesses that are Farm Household Allowance (FHA) recipients in Northern and North West Victoria. Eligible farmers are invited to apply for a one-off payment via the Farm Business Assistance program. | Call Rural Finance on 1800 260 425 or visit ruralfinance.com.au. |
On-Farm Emergency Water Infrastructure Rebate Scheme | The On-Farm Emergency Water Infrastructure Rebate Scheme is now available to assist farmers impacted by drought and dry seasonal conditions invest in urgently-needed on-farm water infrastructure that addresses animal welfare needs. The rebate funding is being made available by the Australian Government. The Scheme provides a one-off 25 per cent rebate up to $25,000 (GST exclusive) to eligible primary producers for the costs associated with the purchase and installation of on-farm water infrastructure that addresses animal welfare needs and improves resilience to drought. The Scheme is available for the purchase and installation of emergency water infrastructure for livestock and will close on 30 June 2020 or when the funding is fully allocated, whichever comes first. The Scheme is available to eligible farm businesses in the following Local Government Areas:
Please note: Farm businesses outside of the above Local Government Areas can make an application if they can demonstrate a critical water need for livestock resulting from current seasonal conditions. These applications will be assessed on a case-by-case basis. | Call Rural Finance on 1800 260 425 or visit ruralfinance.com.au. |
On-Farm Drought Infrastructure Support Grants | Grants of up to $5,000 are available to eligible farm businesses in Central and East Gippsland and Northern and North West Victoria. Eligible farm businesses are required to provide at least dollar for dollar matching funding co-contribution. The grants will assist farm businesses implement on-farm infrastructure that improves drought management and preparedness. The program is now available to eligible farm business in the following Local Government Areas:
| Call Rural Finance on 1800 260 425 or visit ruralfinance.com.au. |
Farm Business Assistance program | The Farm Business Assistance program will provide a one-off support payment to farm businesses in Wellington Shire and East Gippsland Shire and eligible dairy farmers in Northern and North-West Victoria. Eligible farmers are invited to apply for a one-off payment of:
^ Young farmers are over 18 and under 35 years of age as of June 30, 2019. | Call Rural Finance on 1800 260 425 or visit www.ruralfinance.com.au |
Managing Farm Risk Program | The Managing Farm Risk Program provides rebates for advice and assessments to help farmers prepare and apply for a new insurance policy that assists with the management of drought and other production and market risks. | Call 1800 837 857 or visit the Department of Agriculture and Water Resources. |
Small Business Financial Counselling | One counsellor appointed for one year to support non-agricultural small businesses impacted by drought in Central and East Gippsland. | Call the Eastern Rural Financial Counselling Service on 1300 045 747. |
Small Business workshops and bus | Planning workshops and mobile mentor services to support small businesses in Central and East Gippsland. | Call Small Business Victoria on 13 22 15. |
Rural Financial Counselling Service (RFCS) | Additional funding to support the RFCS provide free financial counselling to farmers and small related businesses who are in, or at risk of, financial hardship. Counsellors can assist applicants to apply for the Farm Household Allowance. | Call 1800 686 175 (toll free) or call: Western RFCS Eastern RFCS North East RFCS North West RFCS |
Farm Household Allowance (Australian Government)^ | The Australian Government makes an income support payment available to eligible farmers and their families experiencing financial hardship. | Call 132 316 or visit the Human Services website. |
Farmer Assistance Hotline (Australian Government) | Information on the Australian Government's support services available to farmers and rural communities. | Call 132 316 or visit the Human Services website. |
Farm Debt Mediation | The scheme makes it compulsory for banks and other creditors to offer mediation to farmers before commencing debt recovery proceedings on farm mortgages. | Call the Agriculture Victoria Information Line on 136 186 or visit our Farm Debt Mediation page. Email: farm.debt@ecodev.vic.gov.au |
Regional Investment Corporation Farm Business Concessional Loans (Australian Government) ^ | The Australian Government has established the Regional Investment Corporation (RIC). From 1 July 2018, farmers will need to apply to the RIC for the Australian Government’s farm business concessional loans. The RIC will offer two loan products for eligible farm businesses in Victoria: Drought Loans and Farm Investment Loans | Call 1800 875 675 or visit Regional Investment Corporation. |
^ Eligibility criteria and loan amounts have recently changed.
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