Farm assets test stays at $5 million
9 August 2019
A change to the Farm Household Allowance (FHA) assets test aims to make the payment accessible to more farmers.
From 1 July 2019, the FHA farm assets test increased permanently to $5 million. Previously, from 1 September 2018 to 30 June 2019, it temporarily increased to $5 million.
There are 2 parts to the FHA assets test. The farm assets test is Part 2. This part looks at your family’s total farm assets.
Farm assets are those you hold or use wholly or mainly for the farm enterprise. They don’t include your family home. They do include both of the following:
- shares you’re required to hold to operate the farm
- tradeable water assets from the Murray-Darling Basin.
Part 1 of the FHA assets test looks at your non-farm and liquid assets.
We assess your non-farm and liquid assets using the same test as the Newstart assets test.
Read more about FHA, including how to claim. You can get help to claim from either the Farmer Assistance Hotline or the Rural Financial Counselling Service (RFCS). Read more about the RFCS on the Department of Agriculture website.
You can check Payment Finder to see if you may be eligible for other payments. For example, farming families with children may also be eligible for Family Tax Benefit.
It’s important not to self assess. The only way to know for sure is to submit a claim.
Read more news for rural and remote Australians.
The work test for Parental Leave Pay and Dad and Partner Pay is changing. These changes may affect you.
New means test rules for lifetime income streams came into effect on 1 July 2019.
Page last updated: 1 October 2019