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Get in quick for remaining drought assistance

Date: 1 February 2021

There are still a number of measures available to those affected by drought! Take a look at our snapshot below and useful links for more information. In further news, the Emergency Water Infrastructure Scheme promises a share of $50 million in Government funding up for grabs, we’ll keep you in the know!

Currently available:

  • RIC Drought Loan
    • Up to $2 million
    • 10 year term
    • Can be used to refinance debt, pay for operating expenses and capital
    • Cannot be used for non farm assets & expenses, payout of dividends or equity, anything you have already received funding for
    • No close date
  • AgBiz Drought Loan
    • Up to $500,000
    • 10 year term
    • Can be used to refinance debt, pay for operating expenses, suppliers and wages
    • Cannot be used on purchase of private and domestic assets or expenses, tax bills, labour or dividends
    • No close date
  • AgriStarter Loan – Start up or succession planning  
    • Up to $2 million
    • 10 year term
    • Can be used to fund the purchase of an existing farm business, land, to buy out relatives during farm business succession and costs associated with succession planning
    • Cannot be used on purchase of private and domestic assets or expenses, tax bills, labour or dividends

Recently closed:

  • Emergency Drought Transport Subsidy. Applications closed 31 December 2020.
  • Donated Fodder Transport Subsidy. Applications closed 31 December 2020.
  • Animal Welfare Transport Subsidy. Applications closed 31 December 2020.
  • Disaster Recovery Grants. Application closed 31 December 2020.

Watch this space:

  • Emergency Water Infrastructure Rebate Scheme
    On 2 October 2020, the Australian Government announced an additional $50 million of funding towards the Emergency Water Infrastructure Rebate Scheme in 2020-21. More information will be provided when available.

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To discuss with one of our estate planning experts. Start by emailing us at enquiries@rm.net.au

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