Australian Dairy Farmers (ADF) has welcomed the 2015-2016 Federal Budget’s delivery on some important priorities for the dairy industry, as a positive preface to the release of the Agricultural Competitiveness White Paper.
“We are pleased that the Government has delivered on some key priorities for the dairy industry, while also honouring commitments to support drought affected farmers,” ADF President, Noel Campbell said.
“The moderate additional funding provided to our industry recognises the need to invest in dairy so it may grow and prosper and deliver tangible benefits to the Australian economy.”
“We hope that this is just the tip of the iceberg, and that the Agricultural Competitiveness White Paper will see greater investment for the Australian dairy industry.”
Relevant highlights for dairy in the budget include:
- Tax breaks for small businesses with an annual turnover under $2 million, which will apply to the vast majority of dairy farm businesses across Australia.
- Drought specific measures that will allow farmers to accelerate depreciation for spending on water, fodder storage and fencing, which will encourage investment and improve cash flow on farm.
- Extension of the Tasmanian Freight Equalisation Scheme from 1 January 2016 to include a subsidy at a flat rate of $700 per twenty-foot equivalent unit for exports.
- $25 million to help Australian producers access the benefits of free trade agreements, an initiative called for by the NFF; and
- $83 million additional resources allocated to the Drought Package including Rural Financial Counsellors, regional infrastructure projects and mental health programs.
ADF will continue to work with the Government to maximise the benefits of these Budget allocations, as well as to advocate for further direction and clarity on future policy and investment essential to dairy’s long-term sustainability.
To view the Australian Dairy Industry Council’s submission to the Agricultural Competitiveness Green Paper click here.
Shona McPherson, Media Officer
M: 0447 161 919