Sunrise over a paddock containing cows
Agriculture

Managing Farm Risk

Funder:  Federal – Agriculture

Grant Background: Insurance can significantly reduce the financial risks farmers face from production loss caused by factors beyond their control. The Australian Government understands that insurance for risks—like adverse weather, drought and fluctuating markets—can protect profits and give farmers peace of mind. But identifying and choosing suitable insurance can be challenging.

The Managing Farm Risk Program provides rebates for advice and assessments to help farmers prepare and apply for a new insurance policy that assists with the management of drought and other production and market risks.

$ Available: These one-off rebates will be for half of the costs incurred by eligible farm businesses, up to a maximum of $2500.00 (GST exclusive).

Eligibility:  One rebate per eligible farm business is available under the Managing Farm Risk Program. An eligible farm business is one that meets all of the following criteria:

  1. operates as a sole trader, trust, partnership or private company;
  2. under normal circumstances, has at least one member who derives at least 50 per cent of his or her income from the farm business;
  3. is involved within the agricultural, horticultural, pastoral, apicultural or aquacultural industries;
  4. is wholly located in Australia;
  5. is registered for tax purposes in Australia with an Australian Business Number (ABN) and is registered for GST;
  6. is not a public company under the meaning of the Corporations Act 2001(Cth);
  7. for the previous financial year, had total cash receipts (see glossary) of less than $2 million;
  8. has a written offer or refusal from an insurance provider for a new insurance product that assists with the management of production risks;
  9. has not previously applied for and been paid a rebate under the programme.

Key Dates: closes 31 May 2019

Link: CLICK HERE

Happy to chat if you need a hand with your application. Good luck, Melanie

#agriculture #insurance   #riskreduction  #farminsurance #droughtmanagement

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