Grant Alert & Update

August 2018

Collins Hume

is a CPA business

ACCOUNTANTS

BUSINESS ADVISERS

FINANCIAL ADVISERS

MORTGAGE BROKERS

Ballina

97 Tamar Street

PO Box 731

Ballina NSW 2478

Byron Bay

Suite 6

11 Fletcher Street

Byron Bay NSW 2481

P (02) 6686 3000

F (02) 6686 7854

E mail@collinshume.com.au

ABN 35 670 434 379

collinshume.com.au

Collins Hume

Collins Hume is a Corporate Authorised

Representative No 1243440 of

GPS Wealth Ltd | AFSL 254 544 | Australian Credit

Licence 254544 | ABN 17 005 482 726

Farm Household Allowance

Farm Household Allowance (FHA) provides eligible farmers and

their partners experiencing financial hardship with assistance

through planning and training for long-term financial

improvements as well as income support for up to three years.

Management of FHA policy and payments is shared across multiple government

departments.

The Department of Agriculture and Water Resources manages the policy. Read the guidelines

relating to the administration of FHA.

Available support

Eligible farmers and their partners can access, for up to four years:

Income support allowance

Dedicated case management to help a recipient assess their situation and develop a

plan for the future

A financial assessment and assessment of their farm enterprise called a Farm

Financial Assessment (FFA), including up to $1,500 to assist with completing that

assessment

A plan to address the challenges facing them and their farm enterprise called a

Financial Improvement Agreement (FIA), including up to $4,000 to undertake

activities identified in the FIA

Ongoing support from the Rural Financial Counselling Service (RFCS)

Eligible farmers and their partners can access up to four cumulative years of payment. This is

designed to give recipients the time to take steps to improve their circumstances. Farmers

and their partners are not required to use their three years in one go.

Applications for Farm Household Allowance are managed by the Department of Human

Services (DHS). Applicants are encouraged not to self-assess their eligibility. You can seek

advice on eligibility or how to apply for assistance by contacting Collins Hume on 02 6686

3000 in the first instance.

On 29 July, the Minister for Agriculture David

Littleproud announced a review of the FHA,

which provides help for farmers facing

hardship, particularly during drought. The

Federal Government then signed off

emergency special payments for eligible

farmers who are under intense financial strain

due to relentless drought conditions.

In addition to the recent extension to FHA

program to four cumulative years (effective 1

August 2018), pending the passage of

legislation the Australian Government has

announced further significant changes to the

program – with two lump sum supplementary

payments worth up to $12,000 for eligible

households and changing the assets threshold

to allow thousands more farmers to access

support.

To find out more call Collins Hume or the

Rural Financial Counselling Service 1800 686

175. Further information, including terms of

reference and ways to engage with the review,

will be published on the Department of

Agriculture and Water Resources website.