Few farmers paid to walk away
16 Jul 2008
Few farmers are seeking government grants to walk away from unviable farms, and ever fewer quality for the grant. Only 32 Australian farmers out of 411 applicants have received a grant so far. On average they received $139,000. Only 24 farmers were paid the full $150,000. A farmer can receive the full $150,000 grant, which is taxable, if the total value of his *or* her property and assets, minus debt, is less than $350,000. The grant reduces for assets above $350,000, and a reduced grant is paid for assets up to $575,000.
The Age, 16/07/2008
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