Looking to open or renew a Westpac FMD?
A Westpac FMD helps you better manage cash flow during the peaks and troughs of your annual income as a primary producer by allowing a tax deduction for FMDs.
It's flexible too - you can deposit funds for any period - between 7 days and 5 years:
- Earn a great base interest rate plus bonus interest1 on balances above $20,000
- Minimum deposit $1,000 - maximum deposit $400,000.
Reduce exposure
Deposit pre-tax income in your FMD and take advantage of potential tax benefits2.
Next steps
Contact your Westpac Agribusiness Manager or
call Country Business Direct on 1300 134 979 (Mon-Fri, 8am-7pm, Sydney time).
Next steps
Give us a call
Things you should know
- 1.Bonus rate not available in conjunction with any special offer
- 2.Pre-tax primary production income needs to be placed in a FMD for a minimum of 12 months to receive tax deferrals.
- You must be an individual primary producer with a taxable non-primary production income of less than $65,000 and hold all your eligible funds with the one Financial Institution. The total of your farm management deposits must be no more than $400,000 at any one time.
- The tax position described is a general statement and should be used only as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.
