Commonwealth assistance programs
Commonwealth government programs and services are available to help farmers impacted by drought.
What’s available?
- Up to 4 years of fortnightly income (every 10 years) from the Farm Household Allowance
- Low-interest concessional loans with the Regional Investment Corporation including a drought loan and an AgBiz drought loan
- Tax concessions – find out how the Australian Tax Office (ATO) can help
- Tax time – talk to the ATO about more time to lodge and pay tax
- Free and independent financial counselling at a service near you from the Rural Financial Counselling Service
Drought hardship loan
The drought hardship loan is designed for farm businesses that have managed through at least 24 months of drought and expect further impacts over the next 12 months.
Eligible farm businesses can borrow up to $250,000 over a 5-year term at the Regional Investment Corporation’s concessional interest rate (currently 5.18%), with a 2-year repayment holiday. This provides breathing space during ongoing drought conditions.
The loan can be used for essential operating costs such as paying bills, buying fodder and transporting livestock or produce. It can also support forward planning and seasonal decision-making.
More information is available from the Regional Investment Corporation or by calling 1800 875 675.