Dan Tehan welcomes $400 million farm support package

In addition to the $333 million announced at the weekend for drought, the Commonwealth will also provide $70 million to assist primary producers claim accelerated depreciation for water facilities, fodder storage and fencing from 1 July 2016, which will not be drought dependent.

The accelerated depreciation measures are a welcome boost for farmers, Mr Tehan said.

We need to start preparing for a China, Japan, Korea Free Trade Agreement future. These initiatives will help to improve the productivity and environmental management of the land.

This assistance is as much an investment in our region’s future as it is support for us today.

Mr Tehan said further measures will be announced in the forthcoming Agricultural Competitiveness White Paper.

For information on the new drought support measures go to http://www.agriculture.gov.au/drought.

Media contact: Cate Mercer-Grant 03 5572 1100 or 0408 564 232