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Feds reconsider limits on drought assistance
19 May 2005
The federal government said it would reconsider the cut-off point at which income from outside the farm would disqualify a farmer for drought assistance. Many farming families who diversify their income with off-farm income or investments may be ineligible for assistance. Interest rate subsidies worth as much as $100,000 a year are unavailable to farmers who satisfy a number of criteria. The net value of their off-farm assets cannot exceed $217,500, they must derive most of their income on-farm and they must spend more than 75 per cent of their time working in the farm business.
Deputy Prime Minister John Anderson said that the government would continue to review the issue, describing it as "quite a policy problem".
Financial Review, 19/05/05
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