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Managing Farm Risk Program
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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.
These one-off rebates will be for half of the costs incurred by eligible farm businesses, up to a maximum of $2500 (GST exclusive).
The Managing Farm Risk Programe is part of the Australian Government's Agricultural Competitiveness White Paper, the government’s plan to grow our agriculture sector for stronger farmers and a stronger economy.
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.
Note: Receipt of funding from this program may result in an applicant’s business being ineligible for support from other government programs. Funding may also have taxation implications. Applicants should seek independent taxation and financial advice from a suitably qualified professional before submitting their application.
The Managing Farm Risk Program will operate from the date the guidelines were released until 30 June 2019.
From $1.00 to $2,500.00
Complete the application form available from GrantConnect. This is not an on-line application so you will need to download the form to fill it out and email it, with required supporting documents to the Community Grants Hub at email@example.com
If you are unable to submit an application by email you may seek assistance by calling the Manaigng Farm Risk Program hotline on 1800 837 857
Community Grants Hub