Farm Management Deposit
Essentials
- Manage your cash flow and enjoy tax concessions
- Provides tax concessions, bonus interest rates and effective risk management benefits
- No bank fees
- Deposit from $1,000 to $400,000 held with one financial institution 1
- Deposit must be held for a minimum of 12 months
- Deposit may be fully tax deductible in the year deposit made and fully taxable in the year withdrawn 2
- Bonus interest rates for amounts from $20,000 up to $250,000 – not in conjunction with any other special offer.
Additional information
- Additional benefits exist for primary producers who are in areas covered by a Exceptional Circumstances Declaration
- For more information on the Farm Management Deposit scheme, visit the Agriculture Fisheries and Forestry Australia website.
Things you should know
- 1.You must be an individual primary produces with a taxable non farm income of less than $65,000 and whose Farm Management Deposit accounts are all held with Westpac.
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2.The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.
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