New livestock income rule helps farmers
27 June 2019
A change to Farm Household Allowance (FHA) helps farmers forced to dispose of their livestock.
Money you get from the forced disposal of livestock from 1 July 2019 may be exempt from the income test.
We’ll exempt the income if you deposit the money you get into a Farm Management Deposit account.
If you use the money for something else, we’ll count it as income. This includes paying household bills.
Forced disposal includes selling or destroying livestock due to drought or natural disaster. It may also include when:
- your farm can’t support the livestock
- you have concern for the welfare of the livestock
- the law requires you dispose of the livestock.
Once you put the money in the Farm Management Deposit account it becomes an asset and the assets test will apply. We’ll count any interest you get as income.
This change only applies to FHA.
Watch our FHA videos to see how we can help you and your farm.
To talk to us, call the Farmer Assistance Hotline.
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Page last updated: 27 June 2019