An assessment of your, your partner’s and your farm’s financial position. This is one of your mutual obligations for Farm Household Allowance.
You have 28 days from the request to complete a Farm Financial Assessment.
About the assessment
If you need to complete a Farm Financial Assessment, we'll send you a letter. It will include:
- all the information you need to complete the assessment
- a Farm Financial Assessment Supplement voucher, and
- your One Time Access Code
You need to meet with a qualified prescribed adviser to complete the assessment.
This type of advisor is someone who:
- has relevant financial qualifications
- belongs to a professional organisation that provides financial advice
- is not a family member
- doesn't have a conflict of interest if they provide services to you, and
- has internet access
You'll need to pay a fee to the advisor that completes your assessment. They set the fee for your assessment.
Farm Financial Assessment Supplement voucher
Use the Farm Financial Assessment Supplement voucher we sent in your letter to help you pay this fee. You can use voucher to pay up to $1,500 for the assessment. You can’t use the voucher to cover additional costs. You’ll need to complete Part A of the voucher and your advisor will complete Part B.
If the voucher doesn’t cover the full fee, you’ll need to pay the rest.
Before the assessment
You should do a few things before your assessment.
Complete the about you section
The first thing you should do is complete the about you section of the assessment form. It’s best to do this online.
Information you’ll need
To complete the about you section you’ll need to provide the following details:
- farm description
- property use
- condition of your assets
- labour input
- environmental factors, and
- farming future
If you need help with your Centrelink online account or mobile app use the online help guides and videos.
To complete the about you section online:
- sign in to your online account through myGov – if you don’t have one you’ll need to register
- select Menu
- expand Apply for a Payment or Concession Card and select Farm Financial Assessment
If you don’t have internet access
If you can’t complete the about you section online, you can complete it with your advisor at your assessment.
Set up an appointment
Once you’ve completed the about your section of the form, you should set up an appointment with your advisor.
Get documents ready
You’ll need to take some documents with you to your appointment. Get the following documents ready to take to your appointment:
- a copy of your Farm Financial Assessment letter and voucher
- your myGov details
- any current or recent plans, for example business, agronomy, or financial
- copies of your tax returns and financial statements from the last 3 years
- any superannuation payments, annuities and other income, and
- copies of financial details you provided for your application for Farm Household Allowance
You’ll also need details of:
- any personal or business debts
- planned expenses such as your children’s education and maintenance expenses
- current income, including payments from us, income from off-farm employment, or rental income, and
- details of assets and investments
Assets and investments can include:
- bank and building society accounts
- Farm Management Deposits
- shares, or
- managed investments
At the assessment
During the assessment, you and your advisor will work through the relevant parts of the assessment together.
Minimum browser requirements
We support most internet browsers and assistive technologies. If you have trouble while doing your assessment refer to Centrelink online accounts for assistance and troubleshooting.
About you section
If you couldn’t complete this section online your advisor will help you complete the about you section. Your advisor will discuss:
- your personal financial position
- the financial position of your farm
- your place in the farm business
- the strengths and weaknesses of your farm
- the profitability of your farm business
- what factors are causing you financial hardship, and
- any suggestions that may help improve your financial position
Farm information section
You and your advisor will complete the farm information section. Your advisor will complete most of this section. To do this you’ll need to give them your:
- One Time Access Code that we sent you with your assessment letter, and
- customer reference number
You can use your One Time Access Code as many times as needed, until your adviser submits your assessment.
Your advisor will:
- access the Farm Financial Assessment portal
- enter your Customer Reference Number
- enter your One Time Access Code
- select continue, and
- complete the questions
Financial position section
You and your advisor will complete a detailed summary of your and your farm’s current financial position. This helps your advisor estimate your position financially over the next 3 years.
When you’ve finished the summary, your advisor will complete the section.
Once complete, the advisor will:
- assess your current financial position
- complete a strengths, weaknesses, opportunities and threats evaluation of your overall financial position
- summarise what factors are affecting your financial position
- fill out a report of the potential position of your farm, and
- offer their qualified opinion of its long term viability
The Farm Financial Assessment Companion Guide on the Department of Agriculture website provides lots of advice.
On completion of the assessment
Once you’ve completed your assessment, your advisor will issue you with an invoice for their services. They should make the invoice out to the Department of Human Services.
Use the Farm Financial Assessment Supplement voucher we sent in your letter to help you pay this fee. You’ll need to complete Part A of the voucher and your advisor will complete Part B.
Return your completed voucher and invoice or receipt of payment to us:
Rural and Climate Change Services
Reply Paid 7816
CANBERRA BC ACT 2610
- at a service centre
Read more about advisors and preparing for a Farm Financial Assessment on the Department of Agriculture website.
When to pay
Our standard payment terms are 30 days from the date you get a correctly rendered tax invoice from us. For payment enquiries:
- call us on 1800 906 144
- select option 1
- then select option 3
- then select option 2
- then select option 3 for accounts payable
Farm Household Case Officer
We’ll assign you a Farm Household Case Officer once we approve you to get Farm Household Allowance.
You must meet with your case officer to develop your Financial Improvement Agreement.
Financial Improvement Agreement
This agreement sets out the activities you must do while you get Farm Household Allowance from us.
You will have 28 days to enter into your agreement or your payment may stop. Talk to your case officer as soon as possible if you need more time.