DROUGHT ASSISTANCE FUND
The Drought Assistance Fund provides a $50,000 interest free seven year loan to transport stock, fodder and water; genetic banking of breeding herds, fodder and water infrastructure and activities which promote profitability and resilience as a result of the on-farm investment. No repayment is required in the first two years.
NB: Applicants who received a loan in the 2018-19 financial year can apply for an additional loan of up to $50,000 in the 2019-20 financial year.
FARM INNOVATION FUND
The Farm Innovation Fund provides a low interest loan scheme to build permanent infrastructure to a maximum of $1,000,000 per project.
The Farm Innovation Funds helps to improve farm productivity, manage adverse seasonal conditions and ensure long term sustainability. The interest rate is fixed at 2.5% and the loan is for a maximum 20 year period.
Interest charges on Farm Innovation Fund loans for the 2019-20 year will be waived.
FUEL TAX CREDIT RATES
Fuel tax credit rates increased on 5 August 2019. The new rates are 16 c/litre for heavy vehicles travelling on public roads and 41.8 c/litre for vehicles travelling off public roads and for powering auxiliary equipment of a heavy vehicle.
EMERGENCY WATER INFRASTRUCTURE REBATE
The Emergency Water Infrastructure Rebate covers 25% of the cost of purchase, delivery and installation of water infrastructure that addresses animal needs and improves resilience to drought.
Eligible activities include:
- Water storage devices such as tanks and troughs
De-silting of existing dams
- Bores and associated power supply.
Ineligible activities include:
- Construction of dams
- Water infrastructure for uses other than to supply water for livestock.
The rebate can be claimed for eligible water infrastructure expenses since 1 July 2018, up to a maximum rebate of
$25,000 per farm enterprise.
Apply at www.raa.nsw.gov.au/grants/emergency-water-infrastructure-rebate-scheme
EMERGENCY DROUGHT TRANSPORT SUBSIDY
Round Two of the Drought Transport Subsidy is now available. The subsidy can be applied for the cost of transporting fodder, water to a property for stock or domestic use, stock to and from agistment, and stock to sale or slaughter. For applications received from 1 July 2019 the subsidy also includes transporting of farm chemicals, fertiliser and seed to farms.
Farmers who applied for the Drought Transport Subsidy in the 2018/19 financial year (Round One) are able to apply for an additional $40,000 for invoices dated between 1 July 2019 to 30 June 2020. Farmers who did not apply for the Drought Transport Subsidy prior to 30 June 2019 (Round One), can apply for a maximum subsidy of $40,000 for invoices dated from 1 January 2018 to 30 June 2020.
The subsidy covers up to 50% of the full cost of freight up to a maximum of $7.50 per kilometre. For invoices dated from 1 July 2019 to 30 June 2020, the maximum distance of 1500km that is able to be subsidised has been removed.
Apply at www.raa.nsw.gov.au/grants/transport-subsidy-emergency-drought-relief.