Below I summarise the key points.  As with any Government scheme there is lots to read for full information.

In Victoria the interest subsidy support is managed by the Rural Finance Corporation.

Up to 80% of interest payable on eligible farm debt.

The interest rate subsidy is payable up to $100,000 in one twelve month period, or cumulative support of $500,000 over 5 years.

A farmer with debt of $1.5m paying 8.6% interest would be $129,000 in interest. 80% of $129,000 is $103,200. However if eligible the subsidy would be capped at $100,000. A huge help in a time of need!

Producer must be:

-  located in EC area
-  be able to demonstrate long run viability
-  but also able to demonstrate a need for financial assistance
-  primarily reliant on farm for livelihood
-  farm is of commercial scale
-  off-farm assets less than $458,000
-  without the interest rate subsidy not be able to demonstrate long run viability
-  at least 50% income derived from farming

You will see that it can be a tricky business demonstrating financial need and farm viability at the same time, yet it is essential to do so to meet the criteria. To do this I work with clients in preparing drought year, drought recovery year, and long term farm plans and cashflows.