The South Australian Government announced an $18 million package to support farmers affected by drought in SA.
The package includes:
Rural Business Support offers free rural financial counselling services that are confidential and impartial.
Rural Aid provides critical support to farmers affected by natural disaster through financial, wellbeing, and fodder assistance.
The Australian Taxation Office's drought support helps individuals, businesses, and primary producers to manage their finances when facing drought.
Farm management deposits (FMD) allow eligible primary producers to set aside pre-tax income in years of high cash flow and withdraw it in low-income years. When withdrawing from your FMD account, the deposits count as part of your assessable income for that year.
Before a creditor can foreclose on a farming operation, they are required under the Farm Debt Mediation Act 2018 to offer mediation through the Office of the Small Business Commissioner. This ensures SA farmers are better protected with greater financial security.
Fees apply for each mediation. Find out about farm debt mediation.
The Farm Household Allowance program assists commercial-scale farmers and their partners experiencing financial hardship through a package of tailored support.
The Regional Investment Corporation can loan up to $2 million to eligible farm businesses preparing for, managing through, and recovering from drought. The Drought Loan offers low interest with no fees.
Eligible farm-related small businesses can apply for the AgBiz Drought Loan for amounts up to $500,000. You must be, or have been, supplying goods or services relating to primary production to farm businesses located in a drought-affected area.
Service providers may have financial hardship policies, allowing people to negotiate payment arrangements in times of need. Contact your telecommunication service provider to find out more.