8000 more farmers to get household assistance during drought
MORE than 8000 additional farmers struggling with tough times will now have access to the Farm Household Allowance, after the Coalition Government introduced legislation to maintain the net farm asset threshold at $5 million.
The FHA is designed to assist farmers during drought, to implement plans to improve long-term financial circumstances and assess their options, said Minister for Agriculture, Senator Bridget McKenzie.
"Australian farmers are very resilient, but like everyone else there are times when they need additional support,” she said.
"Last year the Government temporarily increased the cap from $2.6million to $5million to support farmers affected by the current drought who were in financial difficulties, but were notionally asset rich.
"The change is temporary, pending the FHA Review, which ultimately recommended making the temporary increase permanent.”
Sen McKenzie said the increase would allow farmers to access support without having to jeopardise the income-producing capacity of their farm by selling equipment.
"Increasing the threshold increases the potential pool of recipients by approximately 8000 additional farmers,” she said.