{"id":144825,"date":"2016-05-16T13:39:53","date_gmt":"2016-05-16T03:39:53","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=144825"},"modified":"2020-07-28T19:55:55","modified_gmt":"2020-07-28T09:55:55","slug":"deputy-pm-praises-rural-bank","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/05\/16\/deputy-pm-praises-rural-bank\/","title":{"rendered":"Deputy PM Praises Rural Bank"},"content":{"rendered":"
\"\"<\/a>
Deputy Prime Minister
Barnaby Joyce<\/figcaption><\/figure>\n

May 16, 2016<\/strong><\/p>\n

The Rural Bank has announced it will offer customers the ability to offset farm loan interest using Farm Management Deposits (FMDs).<\/p>\n

From July 1, the amount of money farmers can put into FMDs will double from $400,000 to $800,000 and farmers will once again be able to access their FMDs early during a drought.<\/p>\n

The Federal Government\u00a0 has also removed a restriction preventing FMDs being used as loan offsets.<\/p>\n

\u201cRural Bank is the first financial institution to announce it will offer farmers the ability to offset their farm loan interest by using FMDs. Rural Bank is sending a positive signal and I have no doubt other institutions will follow its lead,” Deputy Prime Minister Barnaby Joyce said.<\/p>\n

“Put simply, FMDs allow farmers to put pre-tax income aside in good years to build up cash reserves for use in low income years.<\/p>\n

“Having money set aside in an FMD to draw on in lean years can help farmers and farming families to bring their businesses back to profitability when conditions improve.<\/p>\n

\u201cThe Coalition is now providing yet another reason why farmers should invest in FMDs by allowing them to be used to squeeze down interest accumulating on farm debt.<\/p>\n

\u201cI congratulate Rural Bank for its initiative and encourage more banks to follow their lead.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The Rural Bank has announced it will offer customers the ability to offset farm loan interest using Farm Management Deposits (FMDs).<\/p>\n","protected":false},"author":20,"featured_media":261132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nDeputy PM Praises Rural Bank - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2016\/05\/16\/deputy-pm-praises-rural-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deputy PM Praises Rural Bank - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The Rural Bank has announced it will offer customers the ability to offset farm loan interest using Farm Management Deposits (FMDs).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2016\/05\/16\/deputy-pm-praises-rural-bank\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-16T03:39:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-28T09:55:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2017\/06\/barnabyjoyce2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2016\/05\/16\/deputy-pm-praises-rural-bank\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2016\/05\/16\/deputy-pm-praises-rural-bank\/\",\"name\":\"Deputy PM Praises Rural Bank - 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