Farming investment

Farming investment

There have been plenty of announcements regarding grants and funding initiatives on offer for regional Australia to stimulate the economy as the country emerges from the COVID pandemic, however sometimes the announcements get lost in translation.

The SE Voice decided to reach out to Federal Member for Barker Tony Pasin to clarify exactly what was on offer for country Australia, particularly in the Lower South East.

Q: What initiatives were included in the Federal Government’s 2020-21 Budget to support agriculture?

A: Like all businesses, agricultural enterprises can take advantage of the economy wide economic initiatives included in the Federal Budget such as the expansion of the successful Instant Asset Write Off Scheme.

Through this, more than 99% of businesses are entitled to write off the full value of any eligible asset purchased before June 2022, that could be a new shed, a new tractor or an irrigator.

Additionally, a further $2b in concessional loans have been made available to farmers to help overcome the impacts of drought, $317m has been earmarked to expand global markets and $2b is to be invested into vital water infrastructure like dams, weirs and pipelines as part of the national water grid.

One of the biggest issues facing the agriculture sector right now is access to workers which is why from November 1, Australian job seekers relocating to regional areas for work can claim a reimbursement of up to $6000 to cover costs like transport and accommodation.

Additionally, we have expanded the work rights for those on a Working Holiday Maker Visas and international students. The new JobMaker Hiring Credit is also available to Australian farmers and provides a subsidy of $200 per week for employing a young Australian current on the JobSeeker Payment.

Australian farmers will also benefit from the additional $10b dollars in infrastructure spending provided for in the Budget bringing our investment pipeline to a total of $110b.

This includes importantly $134m for upgrade works to the Princes Highway.

Visit www.budget.gov.au or contact my office on 8725 7730 for further information.

Q: What grants have been available for agriculture?

A: Whilst there grant initiatives included in the Budget, our Government’s focus is creating the right environment for businesses, like farmers, to emerge successfully from the pandemic.

Recent agricultural-focused funding opportunities have included the Regional Investment Corporation Concessional Loans Program, the On-Farm Emergency Water Infrastructure Rebate Program, the Smart Farms Small Grants Program, the Horticulture Netting Infrastructure Grants Program and the Natural Resource Management Drought Resilience Program to name a few.

New funding programs as well as and new rounds of existing program are continuously being released throughout the year, visit www.grants.gov.au, www.communitygrants.gov.au/grants or contact my office on 8724 7730 for further information.

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