Farmers offered package to help solve debt woes

THE Federal Government will today announce a package of measures aimed at helping struggling farmers alleviate their debt.

Under the scheme, farmers will be offered low-interest loans of up to $650,000 over two years to help them restructure debt and invest in productivity.

The Farm Management Deposits Scheme will also be expanded to allow more farmers to take advantage of the generous tax deductions.

There will be more rural financial counsellors and the Government will work with banks to ensure farmers are receiving consistent financial advice across the country.

Agriculture Minister Joe Ludwig says the package will help "lighten the load" for farmers struggling with the high Australian dollar and depreciating land values.

Read more at ABC news online



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