Variation to Policy Guidelines QLD - June 2011

Variation to policy guidelines applying to interest rate subsidies for farmers under the exceptional circumstances provisions of the rural adjustment scheme for declared areas in Queensland

This variation is made on the …………………….day of ………………. Two Thousand and Ten (2010).

By: Commonwealth of Australia ('the Commonwealth')

Issued to:  The state of Queensland('Queenland')

Under:

Clause 8 of the Policy Guidelines Applying to Interest Rate Subsidies for Farmers under the Exceptional Circumstances Provisions of the Rural Adjustment Scheme for Declared Areas in New South Wales (Guidelines for Farmers) which was made under clause 6(2) of the Agreement between the Commonwealth and the States and Territories made under the Rural Adjustment Act 1992

Background

a) The Guidelines for Farmers was issued on 18 February 2010.

b) This Variation to the Guidelines for Farmers gives effect to the Commonwealth Government’s decision to extend the $750 000 net off-farm threshold until 30 June 2011.

c) This Variation applies to farmers in the Gulf area affected by Exceptional Circumstances.

The guidelines are varied as follows:

1. Subclause 4)a)v)2) of the Guidelines for Farmers has been amended to read:
   “up until 30 June 2011, off-farm assets such that the net value of off-farm assets is not in excess of $750 000.”
   
2. Subclause 4)a)v)3) of the Guidelines for Farmers has been amended to read:
   “where an application is received after 30 June 2011, off-farm assets, such that the net value of off-farm assets must not exceed double the Newstart Allowance Assets test for homeowners (partnered).”

Signed for and on behalf of the Commonwealth of Australia by a duly authorised representative:

Signature of witness

Name of witness (print)

Signature of authorised representative

Name of authorised representative (print)