Below is a list of support and programs to help build the ongoing resilience of farm businesses.
Making well informed decisions in preparing for droughts and risks are a major factor in having a profitable farm.
There are a number of farm management decision tools to help you:
- consider whole of farm business risk management
- manage weather and climate risks
- manage your people
- best support your business, family and community and natural resources and environment.
Farm financial support and assistance
Financial assistance and support for farm businesses and farm families is available.
Go to pir.sa.gov.au/grants_and_assistance for more information
Farm Management Deposits (FMD)
P: Australian Taxation Office Business Tax Enquiries phone 13 28 66
The FMD Scheme assists primary producers to deal more effectively with varying income. It is designed to increase the self-reliance of Australian primary producers by helping them manage their financial risk and meet their business costs in low-income years by building up cash reserves.
The scheme allows eligible primary producers to set aside pre-tax income from primary production in years of high income, which they can draw on in years of low income. Income deposited into an FMD account is tax deductible in the year the deposit is made. It becomes taxable income in the year in which it is withdrawn.
Health and wellbeing
In difficult times such as these, peoples’ personal health and wellbeing can also be impacted. Help and support can come from a range of sources such as friends, neighbours, service clubs and volunteers as well as the more formal agencies, authorities and services.
- Beyond Blue - Ph: 1300 22 4636 (24-hours, 7-days a week)
- Lifeline - Ph: 13 11 14 (24-hour service) (24-hours, 7-days a week)
- Country Mental Health Services (Rural and remote health services)
Your local doctor or health service can also advise local support services as well.
Multi-Peril Crop Insurance
South Australia has recently stopped charging the stamp duty fees on multi-peril crop insurance - which will see a reduction of about 11 per cent of the overall policy cost. Multi-peril crop insurance covers production costs incurred by farmers if their crop fails due to a nominated peril - which in South Australia includes drought. For more advice reach out to your local Rural Financial Counsellor or agriculture/business consultant. Contact the Rural Financial Counselling Service or free call on 1800 836 211.
Natural resources and the environment
Natural Resource Management boards and Primary Industries and Regions SA (PIRSA) run a range of local programs that can provide technical advice and support on a range of farming and land management issues.