Tasmania does not undertake a formal drought declaration process. Hardship support is available at all times.
AgriGrowth Loan Scheme including young farmer support package
The AgriGrowth Loan Scheme is an initiative of the Tasmanian Government providing low interest loans to Tasmanian farm businesses and agri-food businesses. It will support projects that advance the government's Agrivision 2050 plan which aims to increase the value of the agriculture and agri-food sectors in Tasmania.
The Loan scheme will provide loans ranging from $100,000 to $3 million to fund projects that otherwise could not be brought forward and/or financed under normal banking arrangements.
Key features of the AgriGrowth Loan Scheme
Loans of up to $3 million for eligible farm business and agri-food businesses operating in Tasmania for projects that advance the Agrivision 2050 plan.
Generally loan amounts of less than $100,000 will not be considered under the scheme.
Loan amounts will be considered up to 80 per cent of a recognised valuation for freehold assets provided for loan security. Other non-freehold assets may also be considered for security.
The maximum loan term is normally up to five (5) years. Longer terms up to 15 years may be considered in speciic circumstances.
Variable concessional interest rates will apply (in the order of 3.5 per cent per annum as at June 2018) for a maximum of five (5) years.
Loans may be repaid in full or fully refinanced at the end of the agreed loan term.
Principal loan instalments will commence when cash flow is generated.
Up to five hours of free professional business planning or relevant advice through the Enterprise Centre network is available on request.
Applications will be assessed on the criteria contained within the guidelines.
Visit
Department of State Growth for eligibility and guidelines.
Irrigation concessional arrangement guidelines
There is information about this policy on the
TasNetworks Connections Pricing web page.
If you wish to find out further information about new connections
contact TasNetworks or phone 1300 12 7777 Monday to Friday 9am - 5pm.
Regional Investment Corporation (RIC) Loans
The Regional Investment Corporation (RIC) provides low-interest, long-term loans funded by the Australian Government to support farm businesses and farm-related small businesses. These loans—such as the AgriStarter, Farm Investment, Drought, and AgBiz Drought loans—are designed to help with starting or succession planning, managing through and recovering from drought, refinancing debt, and improving productivity, all with flexible repayment terms and no account-keeping or early repayment fees. For further information visit the
RIC webpage.
Rural Financial Counselling Program
The Rural Financial Counselling Service Tasmania (RFCS) offers free, confidential, and independent financial counselling to primary producers, fishers, and small rural businesses experiencing financial hardship. Delivered by Rural Business Tasmania, the service helps clients understand their financial position, identify risks and opportunities, negotiate with creditors, and access government support and specialist advice.
For further information visit the
RFCST webpage or call 1300 883 276.
Farm Debt Mediation Tasmania
The scheme provides for a structured negotiation process in which a neutral and independent mediator helps farmers and creditors to communicate effectively, to resolve matters relating to farm debts, and to formalise that resolution in an agreement.
This process is cheaper and quicker than going to court, and is a way for farmers and creditors to work together to find a solution with the help of a neutral mediator.
Farm Household Allowance
The Farm Household Allowance (FHA) is a government payment that provides financial support to farming families experiencing hardship, offering income assistance for up to four years within a ten-year period. It also includes access to a case officer and up to $10,000 in activity supplements to help improve financial circumstances through training, advice, or planning. More information is available on the
Australian Government's Department of Agriculture, Fisheries and Forestry website.
Farm Management Deposits (FMD) Scheme
The Farm Management Deposits (FMD) Scheme is an Australian Government initiative that helps primary producers manage financial risk by allowing them to set aside pre-tax income in profitable years, which can be withdrawn and taxed in future years when income is lower. This scheme supports self-reliance and cash flow stability, with eligibility criteria including income thresholds and deposit limits, and offers tax benefits if funds are held for at least 12 months—though early access is allowed in cases of natural disaster or severe rainfall deficiency. Further information can be found on the
Australian Tax Office website.
It is recommended that you should seek advice from financial professionals before making any adjustments.
Social Support Services
Rural Alive and Well is a non-profit organisation delivering suicide prevention, intervention and community well-being services state wide.
Mission Australia is a national charity that provides a wide range of community services to support vulnerable Australians and promote long-term wellbeing and independence.
Anglicare Tasmania is a not-for-profit organisation that provides aged care, gamblers help, financial counselling, acquired injury, housing and other community support services across Tasmania.