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Farm Management Grants FAQs

Farm Management Grants - Frequently Asked Questions

What assistance is available under the Farm Management Grants Scheme?

The Farm Management Scheme provides rebates of up to 50 per cent of the cost of professional advice received in relation to succession planning and the intergenerational transfer of farm businesses.

The maximum payment under the scheme is $2,500 for each receipt provided to QRIDA and applicants may only receive a maximum of $2,500 per financial year.

Does assistance include activities related to implementing a succession plan?

No. Grants are only available for the purpose of obtaining professional advice on succession planning. Grants are not provided for activities related to the costs associated with implementing a succession, estate or financial plan.

Who is eligible to receive a farm management grant?
Primary producers or their children or relatives who have received, or are seeking professional advice about the transfer or sale of the primary production enterprise are eligible for assistance under the scheme.

How long will the scheme be available?
The scheme will be open to applications until 30 June 2019 unless funds allocated for grants in a financial year are fully used.

If this occurs the scheme will be reopened to applications upon commencement of the next financial year.

Are there requirements for who can provide professional advice?
Yes. To be eligible for assistance under the scheme, advice must be provided by an adviser who has relevant qualifications to provide the advice, or has membership of a professional body that entitles the adviser to give the advice. The adviser must not be related to the applicant or employed by an entity owned or partially owned by the applicant.

Examples of suitably qualified professional advisers include accountants, solicitors and succession advisors.

Can more than one application be submitted in a financial year?
Yes. More than one application can be submitted in a year if the maximum assistance of $2,500 has not been reached.

I received advice last financial year 2016-17, am I still eligible to claim now?
Yes, if this advice was provided and invoiced after 23 March 2017, you may still submit your claim in financial years 2017-18 or 2018-19. Please note - an invoice can only be accepted once during the life of the scheme and you may only be paid a maximum of $2,500 in each financial year.

How does QRIDA determine which financial year my approval has been allocated to?
This will be determined using the date your application was received at QRIDA regardless of whether you are applying for a rebate or an approval in principle.

How long do I have to draw down an approval in principle?
QRIDA will request the relevant documentation to be returned within three months of the date your application was approved.

Can more than one invoice be submitted per application?
Yes. Multiple invoices can be submitted for each application. Please ensure satisfactory evidence of payment has been provided for each invoice.

What is evidence of payment?
Evidence of payment is proof your invoice has been paid in full. This may be in the form of an official receipt from the financial adviser, a copy of your bank transfer receipt or a copy of your bank statement confirming payment has been made.

I have received professional advice to the value of $10,000. I have received the maximum grant of $2,500 on this invoice in this financial year. Can I submit the same invoice next financial year for a further payment of $2,500?
No. Only one payment can be made in relation to an invoice over the life of the scheme.

Can applications be submitted before professional advice is received?
Yes. In this event, applications should be submitted with quotes and any other relevant documentation on the proposed advice. This advice however, must have been received after 23 March 2017.

Payment of the assistance will be made after receipt of a tax invoice from the provider and evidence of payment associated with the invoice.

What are the tax implications for rebates received under the scheme?
Questions concerning your personal taxation circumstances should be directed to your taxation advisor or the Australian Taxation Office on 13 72 86.

Is the GST amount shown on invoices included in assistance calculations?

If an applicant is registered for GST, the assistance will be calculated on the invoice amount excluding GST.

If an applicant is not registered for GST, the assistance will be calculated on the invoice amount including GST.

Therefore, if you are registered for GST you are not eligible to receive a rebate on the GST component of any invoices submitted as part of our Farm Management Grant claim. You may be eligible to claim this GST component as part of your normal Business Activity Statement (BAS) submissions. If your business IS registered for GST then your claim amounts must exclude any GST shown on your invoices. If your business IS NOT registered for GST, then your claim amounts must include any GST shown on your submitted invoices.

I am already a Primary Producer but I am interested in acquiring a share in the family property, should I apply as a Primary Producer or a relative of a Primary Producer?

In these circumstances you should apply as a relative of a Primary Producer.

How do I apply?

Applications can be made online via QRIDA’s online application portal, or by completing a PDF application form and submitting to QRIDA.

Instructions for applying online are available here.

Has your question been answered?

If you require further assistance, please contact QRIDA on:

Phone: Freecall 1800 623 946
Post:   GPO Box 211, Brisbane, QLD, 4001

Regional support

QRIDA also has a network of nine Regional Area Managers (RAM’s) based throughout Queensland to provide up-to-date information on QRIDA’s programs. Our Regional Area Managers are available to meet on-farm to help producers with their queries and assist with their applications. Click here to find your local Regional Area Manager.

Last updated
25 July 2017