Drought is one of the biggest challenges farmers face and it has a significant impact on agricultural output, productivity and farm incomes. The government will always stand by farmers in drought.
This white paper aims to help farmers prepare for drought, not only from a business perspective but through better social and community support.
Farmers can use many of the new, practical white paper initiatives not only in drought, but to manage the other risks they face.
Preparing the farm for drought
- $3.3 million to give farmers more accurate, more local and more frequent seasonal forecasts.
- Farmers can immediately tax deduct the cost of new water facilities and depreciate the cost of capital expenditureon fodder storage assets over three years.
- $29.9 million over four years for farm insurance advice and risk assessment grants to help farmers evaluate options.
- Up to $250 million will be allocated for Drought Concessional Loans each year for 11 years.
- $22.8 million to increase Farm Household Allowance case management for farmers to help them make informed decisions about their business’ future.
- Increased financial counselling services and improved access to community mental health.
- Farmers in drought will be able to access their FMDs when needed in a drought, without losing tax concessions.
- Additional advice and help from the Australian Taxation Office.
- $35 million for local infrastructure projects to help communities suffering due to drought.
- $25.8 million over four years to manage pest animals and weeds in drought-affected areas.
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