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White Paper Wrap Up: Drought relief measures/ Water infrastructure

Last week the federal government released its Agricultural Competitiveness White Paper and outlined their plans for the $4 billion investment into the Agricultural sector. Here’s how the numbers break down:

Drought relief measures/ Water infrastructure

  • $2.5 billion set aside for repayable drought assistance loans over the next 10 years
  • $22.8 million to increase farm household allowance case management for farmers
  • $3.3 million to develop more accurate local and seasonal weather forecasts and modelling
  • $29.9 million for insurance advice and risk assessment grants
  • $35 million for local infrastructure projects to assist drought affected communities
  • $25.8 million over four years to manage pests and weeds in drought affected communities
  • $50 million allocated for future water studies and infrastructure planning
  • $450 million for construction of national water infrastructure in partnership with the States/Territories
  • Immediate tax deductions for the cost of new water facilities
  • Depreciation of capital on fodder storage assets over 3 years
  • Farmers allowed access to farm management deposits without losing tax concessions

For further information on the White Paper and how it could benefit your business go to:

http://agwhitepaper.agriculture.gov.au