The Rural Assistance Authority announced changes to the Farm Innovation Fund for NSW farmers.
– Government increased spending from $600m to $1b
– Funding available is increased from $250k to $1m
– Interest charges on loans for 2018-2019 financial year will be waived
NSW government have committed $1bn to the effort which can see NSW farmers apply for up to $1m dollars for infrastructure and drought recovery and preparedness.
Loans through RAA’s Farm Innovation Fund are repayable at a fixed rate of 2.5%, with terms of up to 20 years.
Farmers looking to apply for RAA Farm Innovation Fund contact your team at ABC Sheds for more information and assistance.
ABC Sheds | 1800 44 55 68
What Is The Farm Innovation Fund?
The Farm Innovation Fund is part of the NSW Government’s Drought Strategy and is a long term, low interest rate loan for NSW farmers for permanent on-farm infrastructure. The Farm Innovation Fund helps farmers to:
Should I Apply?
Any farmer with Livestock knows the cost involved with continuing to buy feed, with many farmers having to sell off stock due to the expenses. Many farmers still don’t have storage for their feed, leaving a lot go to waste.
With a simple hay shed, hay can be kept and stored out of the weather, reducing the risk of mould. The shed will also help collect water, a precious and scarce commodity
Farmers with the capacity to collect and store large amounts of fodder, not only have the benefit of protecting their own assets but the potential of selling.
Are you not sure about where to go or how to go about finance for your shed project? Speak to a a team member today to discuss your financial needs or you can call QPF to enquire about finance.
Keep reading below to learn about available finance opportunities
NSW Government announced $500 million in funding for the Emergency Drought Relief Package. $190 million to be dedicated for drought transport subsidies, $150 million for the Farm Innovation fund infrastructure program and $100 million to contribute to the waiver of government fees and charges. Use the links provided below to apply for these funds.
Drought Transport Subsidies
– $20,000 per eligible farm. Applicants can back date to Jan 1, 2018 to claim additional freight expenses
FARM INNOVATION FUND | NSW
– A low interest loan scheme to promote infrastructure development on farm land. Up to $250,000 available for development of sheds, storage and more. Speak to our team to find out more.
SUSTAINABILITY LOAN | QLD
DROUGHT ASSISTANCE FUND | $50,000 one off, interest free loan
– Cover freight costs associated with transport of Livestock, Water and Fodder
– Promote Infrastructure for Water and Fodder
DROUGHT COMMUNITIES PROGRAM
– Speak to your council today about the ‘Drought Communities Program’. Applicable to Councils in drought stricken areas to fund infrastructure.
– Regional Investment Corporation offering 5 years free of interest for eligible applications to finance immediate necessities such as stock-feed and infrastructure.
WAIVERS ON GOVERNMENT FEES
Local Land Services Rates will be waived for all landholders for 2019!
Class 1 Agricultural Conditional Registration fees will be waived for new registrations and renewals. More information here
Farm Innovation Fund interest charges will be waived.
Take advantage of these offers to drought proof today!
Hay and commodity storage can save you!
On May 12 2015, Federal Treasurer Joe Hockey announced $70 million for farmers to encourage drought preparedness. The Government will provide an immediate tax deduction for water facilities and allow farmers to depreciate over three years capital expenditure on fodder storage assets. This was originally commencing on July 1 2016.
At the National Press Club in Canberra on May 27, Hon Barnaby Joyce, Minister for Agriculture, and the Hon Bruce Billson, Minister for Small Business confirmed the program would now be in effect from May 12 2015.
What does this mean for you?
Australian farmers can now claim a tax deduction on all capital expenditure on water facilities, fodder storage assets and fencing incurred since the 2015 Budget was handed down at 7:30pm on 12 May.
Get in touch with us today to order your fodder storage shed!
The Australian Government announced two increases to the Tax Write-off scheme throughout 2019. First, increasing the amount to $25,000, before announcing in the lead up to the election that the new instant tax write-off amount has increased to $30,000!
Are you needing a loan for your next shed. You may be eligible for a low interest loan through the Rural Assistance Authority (RAA).
New South Wales
The Farm Innovation Fund is an incentive-based initiative to assist farmers within New South Wales to identify and address risks to their farming enterprises, improve permanent farm infrastructure, ensure long term productivity and sustainable land use plus aiding in meeting changes to seasonal conditions.
Funding by way of a loan is available to meet the cost of carrying out permanent capital works that will have a significant beneficial impact on the land, long term profitability of the enterprise and address adverse seasonal conditions.
For more information please visit:
Need help with the application? Reach out to us now and our experts will make it easy for you to get these funds!
The Sustainability Loan provides Queensland farmers with finance up to $650,000 to cover capital costs to achieve a more productive and sustainable primary production enterprise. Make your land work better for you by building fences, dams, storage facilities, improving irrigation, or establishing additional water points. Implement on-farm value adding or supply chain initiatives to ensure your enterprise continues to be successful for years to come.
For more information please visit:
Get in touch with us today to improve your farm infrastructure! CALL 1800 44 55 68