New financial support to lend Aussie farmers a hand

The federal government has announced a package of support for farmers experiencing financial hardship.

From March 1, 2014, the transitional farm family payment is being replaced by the interim farm household allowance to provide income support assistance for eligible farmers.

The major change of the new payment is a higher assets test threshold - allowing net farm assets of up to $2.55 million - that will make income support accessible to more farmers Australia-wide.

This payment will be paid at the Newstart rate of up to $542.10 a fortnight for a single person with dependent children.

The payment also entitles recipients to a health care card that gives access to cheaper prescription medicines under the Pharmaceutical Benefits Scheme and various state, territory or local government concessions. New claimants have until June 30, 2014, to submit a claim.

For more information phone 13 23 16 or visit humanservices.gov.au/farmhouseholdallowance.

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