FARM MANAGEMENT DEPOSIT – CHANGES
Changes have been made to increase the non-primary production income threshold from $50,000 to $65,000 per year and the total amount that a primary producer can hold in farm management deposits from $300,000 to $400,000.
For more information, please see the Minister for Agriculture, Fisheries and Forestry’s media release number DAFF06/158PM.
Legislation and supporting material
Legislation to bring this measure into affect was contained in Tax Laws Amendment (2006 Measzures No. 7) Bill 2006 which was introduced into Parliment on 7 December 2006.
The associated Explanatory memorandum is also available
For further information on Farm management deposits, please see:
- Farm management deposits scheme
- Bushfires and primary producers
- Farm management deposit reporting in the AIRR