De­pre­ci­ate fod­der stor­age

The Western Star - - Rural Weekly -

❝ ...we’re help­ing cover the cost of new sheds, si­los and other stor­ages.

— David Lit­tleproud

FARM­ERS can claim ac­cel­er­ated de­pre­ci­a­tion on new fod­der stor­ages, fol­low­ing changes made by the Coali­tion Gov­ern­ment. And those re­ceiv­ing Farm House­hold Al­lowance who are forced to sell live­stock dur­ing the drought, may con­tinue to re­ceive FHA pay­ments if the prof­its are de­posited into a Farm Man­age­ment De­posit ac­count.

Min­is­ter for Drought David Lit­tleproud said this meant farm­ers could, this fi­nan­cial year, claim the en­tire de­pre­ci­a­tion for feed stor­ages built last year.

“Farm­ers need to store more feed for their an­i­mals dur­ing drought, and we’re help­ing cover the cost of new sheds, si­los and other stor­ages,” Min­is­ter Lit­tleproud said.

“The ac­cel­er­ated de­pre­ci­a­tion for fod­der stor­ages joins ex­ist­ing mea­sures to help farm­ers de­pre­ci­ate wa­ter in­fra­struc­ture and fenc­ing costs.

“Also, those farm­ers re­ceiv­ing Farm House­hold Al­lowance who sell live­stock due to hard­ship such as drought will not have that affect their FHA pay­ment, so long as they put the sale money into their Farm Man­age­ment De­posit.

“This is a step to make sure farm­ers aren’t pe­nalised for do­ing the right thing and will help pro­duc­ers set money aside for re-stock­ing when the drought breaks.”

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