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 pay $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
-  have off-farm assets less than $458,000
-  without the interest rate subsidy not be able to demonstrate long run viability
-  derive at least 50% income from farming

You will see that it can be a tricky business demonstrating both current financial need but also future farm viability.

We do Farm Viability Assessments for clients who need an assessment in order to obtain the Interest Subsidy.  Our professional service enhances your chances of being successful, by providing detailed plans which clearly present the assumptions on which it is based.

Need help?  Phone Alan or Will on 03 5229 6196.