March 24, 2017
Queensland primary producers now have access to grants of up to $2500 to help tackle family business and succession planning.
Minister for Agriculture Bill Byrne said new Farm Management Grants would help producers access professional advice on these important matters.
“We know our producers are doing it tough with the continuing drought, and we want to help them plan and succeed for future generations,” Mr Byrne said.
“With the Farm Management Grants, producers seeking professional advice in relation to succession planning, or a family member wanting to acquire an interest in the family business, can apply for a rebate of up to 50 per cent of fees paid for the advice, with a maximum of $2500 per applicant, per financial year.
“Advice must come from a suitably qualified professional adviser such as an accountant, financial planner or solicitor.”
Eligible applicants who received eligible professional advice can apply for a rebate on fees paid for the service through the QRRA.
The Queensland Government is providing up to $1 million per year over three years for the Farm Management Grants.
The grants form part of the State Government’s Rural Assistance Package targeting the issues of rural debt, business risk and succession.
“A key element of the package is building capacity, and that’s why we’ve already announced the removal of transfer duty on all familial farm transfers,” Mr Byrne said.
“This brought Queensland into line with other States and Territories and will make it easier for the next generation to take on the family business.
“We want to ensure the continued future of our agriculture sector and are doing all we can to assist Queensland producers to manage and succeed into the future.”
Further information on the Farm Management Grants is available on the QRRA website or by freecalling 1800-623-946.
