BUSINESS TOOLS
The Dept of Agriculture, Fisheries and Forestry (DAFF) have recently reviewed the Rural Financial Counselling Service (RFCS) program across the nation and have decided to refocus how the service is delivered. In addition to the previous aims of the service the focus will now also include building primary producers' capacity to manage change, including climate change and increased global competition.
RFCS will move to a more structured approach when assisting clients to develop forward planning and cover areas such as management practices, climate variation, cash flow planning, farm business training & development, support towards succession planning and much more. Inline with this more structured approach Rural Financial Counsellor's will use a tool called the Enterprise Action Plan (EAP)
The EAP is designed to assist our clients in working through and implementing strategies with the intention of improving outcomes.
All future client contact with the Service will require the client, with the assistance of the Rural Financial Counsellor to develop either an EAP or a Climate Change Action Plan (CCAP).
These plans involve a more consistent approach to assist the client through the planning process while allowing for individual needs and circumstances to be recognised and managed.
It is the intention that this structured approach will assist clients and result in;
- a better understanding of their financial position,
- quicker resolution of clients business outcomes
- ongoing support of clients needs within a referral network
- fair and reasonable dealings with clients as they progress along their action plan pathway
Climate Change Adjustment Program and the Climate Change Action Plan (CCAP)
The Climate Change Adjustment Program assists farmers in financial difficulty, who are, or are likely to be, adversely impacted by climate change. It helps farmers obtain professional advice, training or to re-establish away from agriculture.
The Climate Change Action Plan (CCAP) assists farmers and their families to adjust their businesses to manage the impacts of climate change and to set goals and take action to improve their long-term financial circumstances, either within or outside of agriculture. Within the Climate Change Adjustment Program there is the following forms of assistance:
- Climate Change Adjustment Program Advice and Training Grant of up to $5500 (GST included) is available to eligible farmers. The grant is available for specialised professional advice and training across a range of areas to assist farmers to adjust to the impacts of climate change. To receive the Climate Change Adjustment Program Advice and Training Grant you will be required to undertake a Farm Business Analysis and Financial Assessment with a Prescribed Adviser and a Climate Change Action Plan with a Rural Financial Counsellor
- Climate Change Adjustment Program Re-establishment Grant includes re-establishment assistance up to $150,000 to farmers who sell their farming enterprise and undertake not to own or operate a farm enterprise for up to five years
With all the talk about Climate Change the Federal Government has introduced FarmReady Reimbursement Grants through DAFF's (Dept of Agriculture, Fisheries and Forestry), Australia's Farming Future initiative.
These grants have been introduced to assist farmers in accessing through approved providers appropriate training to assist them to adapt to climate change.
The intention is that primary producers will become more self reliant and prepared to handle the challenges that climate risk presents.
Eligible participants can receive up to $1,500 each financial year to assist with covering the costs associated with approved training, with additional support also available for excess travel, accommodation and childcare expenses.
For a copy of the FarmReady Reimbursement Guidelines, a list of the accredited courses available and application forms you can log onto the FarmReady website www.farmready.gov.au or phone 1800 087 670.
In addition to the FarmReady Reimbursement Grants there are also Industry Grants available. Up to $80,000 is available to eligible industry, primary producer or natural resource management groups to develop strategies in response to the impacts of climate change. For further information on the Industry Grants email farmready@DAFF.gov.au or phone 1800 638 746.
Transitional Income Support (TIS)
Transitional Income Support is an income support payment paid to primary producers in serious financial difficulty, to adapt to changing circumstances, including climate change.
To be eligible for this payment farmers must meet income and asset tests and have total net assets of less than $1,500,000 including farm assets and the principal residence.To receive Transitional Income Support you will be required to undertake a Farm Business Analysis and Financial Assessment with a Prescribed Adviser and a Climate Change Action Plan with a Rural Financial Counsellor.
Developing a Climate Change Action Plan with a Rural Financial Counsellor will identify a course of action for you to undertake to improve your financial situation.
Regional Office Contact Details
RFCS-CW Regional Office
ABN: 54 606 039 416
First Floor, Suite 1, 62
Wingewarra St,
DUBBO NSW 2830
Telephone: 02 6884 7841
Fax: 02 6884 4926
Email: dubbo@rfcs-cw.com.au
