Farm Management Deposits & Natural Disasters

Dated: May 2011

The Government will allow primary producers affected by any type of natural disaster to access their farm management deposits (FMDs) within 12 months of making a deposit while retaining concessional tax treatment under the scheme.

This concession was previously restricted to primary producers affected by severe drought.

Although the announcement did not specify a date of commencement, it is good to see the Government has recognised that all natural disasters, regardless of type, have the same impact on primary producers.