Exceptional Circumstances Exit Packages available for farmers
June 27, 2011
The Exceptional Circumstances Exit Grant is available to eligible farmers who have to sell their farms. It is targeted at low-income and low-asset farmers.
Federal Member for Murray, Dr Sharman Stone has been informed that the scheme may end before 30 June 2012 if funds are allocated before that date.
“The exit package is designed to assist farmers who leave a family farm, which was located in an area that was covered by an Exceptional Circumstances declaration,” Sharman Stone said.
“Farmers may be entitled to a one-off taxable payment of up to $150,000 and this can be used to get help leaving the farm, and developing options outside of farming.
“Any farmers who may be eligible for the exit package should lodge their application as soon as possible to avoid missing out on the grant.
“There are some requirements that must be met, prior to selling the farm, in order to qualify for the grant. You have to be a farmer, and an Australian resident, your farm was located in an exceptional circumstances area, you have owned or had an interest in the farm for at least 5 years, you have contributed labour and capital in to the farm enterprise, and you have derived income from the farm.
“If you are unsure about whether you are eligible, I suggest you contact Centrelink as soon as possible to discuss your options with them,” Sharman Stone said.
Further information can be obtained by calling the drought assistance hotline on 13 23 16, or by visiting the Centrelink Exceptional Circumstances Exit Package website at http://www.centrelink.gov.au/internet/internet.nsf/payments/exit_package.htm
There are currently no comments, be the first to post one.