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Climate Change Adjustment Program advice and training grant 2008 policy guidelines
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Revised July 2011
These guidelines cover the Climate Change Adjustment Program Advice and Training Grant. They are a high level view of the policy intent which includes all specific provisions. The guidelines are linked to other Commonwealth legislation, for example the Social Security Act 1991 and the Farm Household Support Act 1992.
Climate Change Adjustment Program
Introduction
Australia’s Farming Future, the Australian Government’s key initiative for primary industries, providing a range of assistance measures to help primary producers adapt and respond to climate change.
Climate change presents significant challenges for Australia’s farming community and farmers will need assistance to adapt and respond to these challenges and to start planning for a different future. This includes changes to farm practices and strategies to manage climatic risks and pressures, and potential demographic changes in the sector.
The objective of Australia’s Farming Future is to equip primary producers to adapt and adjust to the impacts of climate change.
The initiative comprises three components which support research and development projects, communication and awareness activities, training, advice:
Climate Change Adaptation Partnerships Program
Increase understanding of climate change impacts and improve on–farm preparedness
Climate Change and Productivity Research Program
Undertake research on managing emissions and adaptation
Climate Change Adjustment Program
Provide primary producers with professional advice, training and adjustment assistance, including assistance to develop and implement a climate change action plan focusing on the risks and adjustment options to manage climate change.
Transitional Income Support
Transitional Income Support (TIS) will assist farmers, regardless of location or industry, who are in need of short term income support to assist recovery from drought, and to help them manage the impacts of climate change. Applicants for Transitional Income Support must undertake a farm financial assessment with a prescribed adviser, using advice and training grants from the Climate Change Adjustment Program, and develop an action plan with a Rural Financial Counsellor (RFC)1.
1 Purpose of the Climate Change Adjustment Program
- The Climate Change Adjustment Program (CCAP) will assist farmers2 who are, or likely to be, adversely impacted by climate change, including those experiencing hardship caused by drought.
- The CCAP will provide support to farmers to adjust their businesses to manage the impacts of climate change and to set goals and action plans to improve their circumstances, either within or outside of the agricultural industry. The CCAP also provides grants of up to $5,500 to assist farmers and their partners3 to obtain professional advice and training to adjust and adapt to the impacts of climate change (CCAP Advice and Training Grant).
- Eligible farmers will be allocated to either Group 1 or Group 2 (see below) depending on their circumstances outlined in a farm financial assessment which is undertaken by a professional financial adviser.
- Group 1 clients are in financial difficulty and require assistance in developing their climate change action plan and support while they undertake their chosen activities. The Rural Financial Counselling Service will provide the support network for Group 1 clients.
- Group 2 clients are in a better financial position and will not require intensive support. Group 2 clients will develop their own climate change action plan and undertake activities in accordance with that plan.
- A third Group of applicants (Group 3 clients) are farmers with net assets over $1.5 million and will be ineligible for CCAP assistance.
Climate Change Adjustment Program Advice and Training Grant
2. Introduction
- The CCAP Advice and Training Grant provides up to $5,500 to assist farmers and their partners3 to obtain professional advice and training to adjust and adapt to the impacts of climate change.
3. Eligibility requirements for the CCAP Advice and Training Grant
- To be eligible for the CCAP Advice and Training Grant, at the time of lodging a completed application, a person:
- must be a farmer and
- an Australian resident; and
- have Australia as his or her principal place of residence; and
- must, for a continuous period of at least 2 years immediately before applying for the CCAP Advice and Training Grant:
- the applicant and the applicant’s partner (whether or not they are still members of a couple6) must not, in the two years prior to the date of lodgment of claim for the CCAP Advice and Training Grant, have received assistance under the Farm Help Advice and Training Scheme 1997 and/or assistance under the Exceptional Circumstances Professional Advice and Planning Grant.
- the applicant’s and the applicant’s partner’s (if any):
- net asset position, worked out using the method set out in subsection 10(3) of the Farm Household Support Act 1992, must not exceed the assets value limit mentioned in subsection 10(4) of the Farm Household Support Act 1992; and
- assessable income must be below or within the allowable income limits used to calculate Newstart Allowance.
- having successfully met eligibility as described under clauses 3.2 (c), (d), (e) and (f), an applicant must additionally obtain a Farm Financial Assessment7 which includes the Primary Filter8 from a Prescribed Adviser9 which is paid for from funds available under the CCAP Advice and Training Grant.
- develop a Climate Change Action Plan10
- an eligible applicant (or the applicant’s partner) is not entitled to receive a grant for advice or training until a Climate Change Action Plan has been completed
- Group 1 applicants must complete a Climate Change Action Plan with a Rural Financial Counsellor. For Group 1 applicants, funds will be available where agreement with the Rural Financial Counsellor has occurred \
- Group 2 applicants will provide a completed Climate Change Action Plan template to Centrelink for approval. For Group 2 applicants, funds will be available for advice and training activities consistent with the list of approved advice and training activities issued to the applicant.
- must be a farmer and
Having undergone a Farm Financial Assessment and the Primary Filter Test (see Schedule 1), applicants will be assessed as eligible for Group 1, Group 2 or Group 3. Group 1 applicants have satisfied the initial income and asset test, the Primary Filter Test and the net assets test. Group 1 applicants will be case managed by Rural Financial Counsellors. Group 2 applicants have satisfied the initial income and asset test and the net assets test, but have not satisfied the Primary Filter Test. Group 2 applicants will be administered by Centrelink. Group 3 applicants have satisfied the initial income and asset tests but not the Primary Filter Test and the net assets test. Group 3 applicants are ineligible for the program.
4. Applying for the CCAP Advice and Training Grant
- Applications for the CCAP Advice and Training Grant 3.2 will be accepted until (and including) 11 May 2012.
- The Australian Government has allocated $3.6 million for the Climate Change Adjustment Program Advice and Training Grant for 2011 12. The program will close on 30 June 2012 or earlier if all funds are expended before that date.
5. How the CCAP Advice and Training Grant can be used
- The CCAP Advice and Training Grant may be used for professional advice11 and/or training to manage the impacts of climate change. The CCAP Advice and Training Grant can cover, but is not limited to:
- financial assessment and planning
- advice and training directly related to climate change impacts including agronomic, climate forecasting and carbon emissions mitigation
- advice and training to assist the transition off the farm enterprise and into either an alternative career or retirement.
- Legal and personal advice can also be obtained where it can be demonstrated to the Rural Financial Counsellor (Group 1) and Centrelink (Group 2) these are sufficiently linked to managing the impacts of climate change.
- Group 1 applicants must discuss their advice and/or training requirements with a Rural Financial Counsellor and agree to use the grant or a portion of the grant to undertake training as agreed during that discussion. The types of advice and training will generally be included in a list of prescribed activities in the Climate Change Action Plan. If a person or their partner (if any) fails to complete the training (other than because of a matter beyond their control), access to further assistance under the CCAP Advice and Training Grant may be denied.
- Group 2 applicants may use funds for training if the training is consistent with the list of approved training activities issued to the applicant. If a person or their partner (if any) fails to complete the training (other than because of a matter beyond their control), access to further assistance under the CCAP Advice and Training Grant may be denied.
- Training must be a course that will assist the applicant and/or the applicant’s partner to manage the impacts of climate change. Professional advice must be obtained from a Qualified Person12 and financial advice from a Prescribed Adviser. Training must be undertaken by a Registered Training Organisation13.
- Payment of approved training will be made in accordance with paragraph 8 of these CCAP Advice and Training Guidelines.
6. How much is available?
- An applicant who has met the eligibility criteria for the CCAP Advice and Training Grant will be able to access a grant of up to $5,500 (GST inclusive) to undertake advice and training. The amount available for advice and training will be $5,500 less the amount it costs to obtain the Farm Financial Assessment.
- Applicants who are assessed as eligible for Transitional Income Support who have received assistance under the Exceptional Circumstances Professional Advice and Planning Grant in the past 2 years will be entitled to $2,500 (GST inclusive) to update their financial outlook assessment and will be able to access professional advice and training activities in accordance with these CCAP Advice and Training Grant guidelines.
- Applicants who are assessed as eligible for Transitional Income Support who have not had a Farm Financial Assessment completed in the past two years from the date of assessment of the original claim for Transitional Income Support will be entitled to $5,500 (GST inclusive) under the CCAP Advice and Training Grant.
- Reasonable costs of up to $1,500 (GST inclusive) of the CCAP Advice and Training Grant can be used for the Farm Financial Assessment.
- Not more than $750 (GST inclusive) of the CCAP Advice and Training Grant may be used for the purchase of business related computer software for the applicant or the applicant’s partner without prior agreement from Centrelink.
- Not more than $1,100 (GST inclusive) of the CCAP Advice and Training Grant can be used for travel and incidentals incurred within Australia in order to obtain professional advice or undertake training without prior agreement. These expenses include travelling and accommodation costs that are necessary and reasonable taking into account the following matters:
- the availability of similar assistance in the local area
- the place where the course is conducted
- the distance between the applicant’s place of normal residence and the place where the course is conducted
- any medical condition of the applicant for which particular transport or accommodation is needed
- child care that is provided under a licence in force under a law of a State or Territory.
- Vouchers issued by Centrelink must be used by the applicant or the applicant’s partner to pay for the advice and training under the CCAP Advice and Training Grant as set out in these CCAP Advice and Training Grant guidelines. For Group 1 applicants, the Rural Financial Counsellor confirms what is appropriate to be spent on advice and training activities within the Climate Change Action Plan. For Group 2 applicants, Centrelink administers the advice and training activities that the applicant is requesting payment for to ensure that the advice and training activities are consistent with the list of approved activities issued to the applicant.
- Vouchers must be used by 15 June 2012 and submitted to Centrelink for payment prior to close of business on 30 June 2012.
Taxation implications
- The CCAP Advice and Training Grant is generally not taxable. Where it reimburses you for the cost of purchasing an asset which declines in value (e.g. software) and which will be used by you for income producing purposes, it will be included in your assessable income as an assessable recoupment where it is paid to assist you to leave farming. If you are remaining in farming it is included in your assessable income. Applicants should seek the advice of a tax adviser.
7. Method of Payment
- The CCAP Advice and Training Grant in most cases will be paid directly to the third party undertaking the approved training and advice activity. In cases where a voucher arrangement is not practicable (e.g. due to high fuel costs) a reimbursement arrangement may be necessary.
- A voucher will be issued to the applicant to present to the third party prior to the advice and training service being delivered. This voucher must be validated by the service provider and the applicant, to confirm that satisfactory services have been provided.
- Payment will be made on presentation to Centrelink of a validated voucher and any necessary supporting documentation from the applicant and (where relevant) the Rural Financial Counsellor.
- Payment for training for a relevant course provided by a Registered Training Organisation will be made on presentation of a receipt or invoice, with certification by the applicant or applicant’s partner and (where relevant) the Rural Financial Counsellor, for:
- the provision of training by a Registered Training Organisation for an eligible applicant
- the applicant’s or the applicant’s partner’s travel and incidental expenses.
8. Non–compliance with the Guidelines
- Costs for advice and training will not be paid if:
- for Group 1 applicants the advice or training is not consistent with the list of approved advice and training activities in the Climate Change Action Plan agreed with the Rural Financial Counsellor (RFC); and for Group 2 applicants the advice or training is not consistent with the list of approved advice and training activities in the Climate Change Action Plan approved by Centrelink
- the advice is not provided by a suitably accredited or qualified party14
- the training is not a relevant course15 or is not provided by a Registered Training Organisation
- the necessary supporting documentation is not provided
- the service and fee were incurred prior to the date of the application being granted
- the voucher for the service and fee is submitted after 30 June 2012
- the advice or training service provider submits a voucher that has been invalidated16.
- Before Advice and Training Grant vouchers are paid for Group 1 customers, the following process will be undertaken:
- If at any of the quarterly reviews of the applicant’s Climate Change Action Plan by the RFC, the applicant has not undertaken agreed advice or training sessions or met any other agreed milestones, the RFC must seek to resolve the issue as quickly as possible. The applicant must be given the opportunity to explain his or her lack of actions and/or agree to comply within 30 days of the review with the RFC. A follow up meeting to check on compliance is to be scheduled for 30 days’ time from the quarterly review in which the applicant was found to be non–compliant.
- If the applicant does not attend the further review with the RFC, the RFC should attempt to contact the applicant to determine why they did not attend. If a reasonable explanation is provided a new review meeting should be scheduled. Otherwise the RFC must advise the applicant that they will report the non–compliance to Centrelink and that Centrelink may decide that their vouchers will be stopped due to non–compliance.
- If at the further review meeting the issue has not been resolved, the RFC must inform a Centrelink representative via the telephone of the situation.
- If Centrelink decides not to pay vouchers after receiving the report from the RFC, Centrelink must notify the applicant in writing.
- Vouchers will not be paid after 30 days from the date of notification.
- If after the 30 day period, under (a) above, the applicant provides the RFC with evidence of compliance with his or her obligations under the Action Plan, the RFC must report this to Centrelink who may decide that vouchers can be paid.
- If the applicant believes the decision to stop the payment of vouchers is incorrect, he or she can seek a review through the review and appeals provisions of these guidelines.
- For cases where there is a dispute about the RFC endorsing the voucher, the applicant can discuss this with the RFC. If the applicant and RFC are unable to resolve the issue, then he or she can seek a review through the review and appeals provisions of these guidelines.
9. Review and Appeals
- If an applicant, or the applicant’s partner, for CCAP disagrees with an eligibility or assessment carried out by Centrelink then the following mechanisms are available:
- Discuss the issue with the Centrelink officer who made the original decision, to provide a chance to correct misunderstandings, present new information or evidence, and to get an incorrect decision changed quickly (this step is not mandatory).
- Ask for a review by an Authorised Review Officer. Authorised Review Officers are senior and experienced people in Centrelink who will have had no involvement in the case.
- look at the information used by the original decision maker
- where possible, talk to the applicant to discuss the matter
- check whether any new, relevant information is available
- clear up any misunderstandings
- correct any mistakes that were made
- change the decision where appropriate
- inform the applicant of the result explaining the reasons for the Authorised Review Officer’s decision.
- The Authorised Review Officer will:
- look at the information used by the original decision maker;
- where possible, talk to the applicant to discuss the matter;
- check whether any new, relevant information is available;
- clear up any misunderstandings;
- correct any mistakes that were made;
- change the decision where appropriate; and
- inform the applicant of the result explaining the reasons for the Authorised Review Officer’s decision.
- If the applicant believes the Authorised Review Officer’s decision is incorrect, he or she can request a further file review through a member of the Centrelink Rural Programs Team in National Support Office. During this review, consultation with the Department of Agriculture, Fisheries and Forestry will occur in all cases where a policy matter is in question.
- If the applicant believes the National Support Office decision is incorrect, he or she can seek assistance from the Commonwealth Ombudsman. The Commonwealth Ombudsman investigates complaints about the administrative actions of Australian Government departments and agencies. It cannot override the decisions of Centrelink, nor issue directions to its staff but resolves disputes through consultation and negotiation, and if necessary, by making formal recommendations to the most senior levels of government.
Prescribed Adviser – farm financial assessment
- If an applicant disagrees with the outcome of the farm financial assessment, conducted by a Prescribed Adviser and the applicant is consequently made ineligible for CCAP then the following procedures are established:
- If requested by the applicant, the local RFC may assist the applicant to gather additional data, if any. This may include a request to Centrelink to arrange a valuation by the Australian Valuation Office.
- The applicant may provide any additional data to the Prescribed Adviser for a supplementary assessment, in accordance with the guidelines.
- Any supplementary assessment by a Prescribed Adviser is final and no further mechanisms are available to review the outcomes of the farm financial assessment, other than in accordance with the guidelines.
- If the RFC case managing the applicant considers that the applicant is not adequately complying with his or her obligations under the CCAP Action Plan then the RFC may recommend to Centrelink that Centrelink, after following the process outlined below, stop Centrelink payments (advice and training vouchers under CCAP). The RFC may consult with Centrelink prior to making a recommendation of stopping an applicant’s payment.
- The applicant will be informed by the RFC that the applicant’s apparent non–compliance may result in a recommendation to Centrelink by the RFC that action be taken to not pay any remaining unused vouchers under CCAP. This may result in Centrelink taking action.
Schedule 1
Climate Change Adjustment Program – Financial Assessment Test
Farmers wishing to access the Climate Change Adjustment Program (CCAP) Advice and Training Grant under section 3.2 only must initially meet the income and asset test administered by Centrelink. This test is applied so that:
- the value of the applicant's assets, worked out using the method set out in subsection 10(3) of the Farm Household Support Act 1992, does not exceed the assets value limit mentioned in subsection 10(4) of the Farm Household Support Act 1992
- assessable income must be below or within the “allowable income limits” used to calculate Newstart Allowance
Further eligibility criteria are contained within the Primary Filter Test.
Primary Filter Test
The Primary Filter Test is based on four tests that are designed to assess the financial status of the applicant and the farm business. A financially sound business would usually have the following elements:
- an ability to earn profits or surpluses;
- an ability to generate sufficient cash flow (as profitability without liquidity is of limited benefit to a business);
- sufficient liquidity to meet short term cash flow obligations; and
- a finance structure whereby the entity is not over leveraged.
The four tests used in the criteria have been chosen to cover each of the elements shown above. Applicants will need to show through passing Test 1 and Test 2, as well as either Test 3 or Test 4, (as outlined below) that they are in severe financial difficulty and eligible for the program. These applicants fall into Group 1 and will be entitled to case management from a Rural Financial Counsellor. Applicants that fail the Financial Assessment Test but meet the Farm Business Net Assets Test will fall into Group 2 and be entitled to the CCAP Advice and Training Grant, but will not receive case management for this program from the Rural Financial Counsellors.
Tests 1 and 2 align with the initial Centrelink income and assets test that will be used to determine initial access to the program. While the applicant must have already passed these tests, their inclusion in the eligibility criteria will enable a complete assessment of the applicant’s current financial situation to be provided to the applicant by the Prescribed Adviser. This assessment is an important foundation for the applicant’s Climate Change Action Plan they will work through during their time on the program.
Test 1 – Farm business income and non–farm income
The farming family’s total income (including their farm and off–farm income) is of primary importance to the applicant’s financial position. An applicant who is earning insufficient income to cover their family’s living costs is unlikely to be in a position where they can fully consider their future adjustment needs. By focusing on the farming family’s estimated total income for the next 12 months, past activities and income streams that may not be relevant to the applicant’s future financial position will be disregarded. Centrelink applies the personal income test used for Newstart Allowance and the estimates of income will align with Centrelink adjustments.
Test 2 – Non–farm net assets
Asset tests are designed so that people with substantial assets, apart from their home, use these assets to meet their day–to–day living expenses before calling on the Government for support. This test ensures the applicant does not have significant net non–farm assets that should be used before seeking assistance from the Government. To be eligible, the value of the applicant’s non–farm net assets must be less than the Applicable Newstart Allowance asset test limit, taking into account their homeowner status and marital status.
Test 3 – Liquidity
Test 3 is a two limb test. If the applicant can provide sufficient information to prove severe financial hardship, that is, the total value of the liquid assets of the applicant and the applicant’s partner (if any) at the date of application for Transitional Income Support is less than or equal to the amount of Newstart Allowance that would have been payable to the farmer during the period of 6 weeks immediately preceding that time, then the applicant passes test three. If the applicant is unable to provide this information, they must satisfy the second component of test three, which is the liquidity ratio.
The ratio of cash/debtors is the most appropriate measure of liquidity for a farm business. This test will be calculated over the most recent 3 months by dividing the applicant’s balance of cash by current liabilities (quick ratio). A ratio of greater than 1.0 indicates that an entity has adequate liquidity i.e. a sufficient level of current assets to meet short–term financial obligations (liabilities). Applicants may be eligible for the Climate Change Adjustment Program if they have a quick ratio of less than 1.0.
The liquidity ratio will also consider the timing/seasonal aspect of farm businesses by ascertaining whether current assets held by the applicant are a representation of the applicant’s true financial position or whether they expect current assets to rise or drop within a certain timeframe. The liquidity ratio will include (where relevant) an applicant’s overdraft if it has not been fully drawn upon.
All Farm Management Deposits17 must be included in the liquidity test, as these funds may be drawn upon to add to the estimate of the applicant’s cash reserves.
Test 4 – Debt to equity position
An applicant with a low level of debt compared to assets should be able to extend their borrowings before seeking financial assistance from the Government. This test will be calculated by dividing the applicant’s total debts by total net assets over the previous 3 months. A debt to equity ratio greater than 1 will be a pass as it indicates the farm may not be able to increase its borrowings. The debt to equity test will include (where relevant) an applicant’s overdraft and the potential liability if it has not been fully drawn upon.
Farm Business Net Assets
To maintain consistency with social security policy, where persons are seeking financial assistance from the taxpayer, the applicant must first draw on their own resources. The total net assets held by the applicant and their partner (if any) (including their farm assets and their principal residence) must not exceed $1.5 million. The cap acknowledges the unique circumstances of a farm business where a level of net assets may be needed to maintain viability.
In calculating the total net assets:
- gifted assets must be included in the total net asset value calculation consistent with the Social Security Act 1991
- any rights of the applicant under an insurance policy in relation to the applicant’s life or under a superannuation scheme are to be excluded in the total net asset value calculation
- the principal residence and all farm assets must be included in the total net asset calculation
- where the principal residence and any farm assets are held in a superannuation scheme their value must be included in the total net asset calculation.
When the four tests are applied, applicants fall into one of the following three groups:
- Group 1 includes applicants who pass the farm business and non–farm income and assets tests as well as either the liquidity or debt to equity tests. These applicants will be deemed to be in financial difficulty or severe financial difficulty and are eligible for Transitional Income Support. These applicants will be required to develop a Climate Change Action Plan with the support of a RFC. They will also need to seek specific professional advice and training to assist them in achieving their objectives, and must attend mandatory quarterly review sessions with a RFC.
- Group 2 includes applicants who pass the farm business and non–farm income and assets tests but fail both the liquidity and debt to equity tests. These applicants are deemed to be financially viable and are not eligible for Transitional Income Support, but have been impacted by the effects of climate change. They may seek specific professional advice and training to assist them in achieving their objectives, under the CCAP Advice and Training Grant. They will not generally require support from a RFC. These applicants will be required to develop a self–managed Climate Change Action Plan with the support of Centrelink officers.
- Group 3 includes applicants whose net assets are deemed to be in excess of the allowable cap of $1.5 million and are ineligible for assistance under the CCAP and Transitional Income Support.
Notes
1. The Rural Financial Counselling Service Program is funded by the Department of Agriculture, Fisheries and Forestry. Rural Financial Counsellors assist rural businesses experiencing financial difficulties by analysing their financial circumstances and identifying their financial and business options. Rural Financial Counsellors help clients identify ways to become self–reliant and better equipped to manage change and adjustment.
2. “Farmer” has the same meaning as in the Farm Household Support Act 1992.
3. “Partner” has the same meaning as in section 4 of the Social Security Act 1991.
4. “Farm enterprise” has the same meaning as in the Farm Household Support Act 1992.
5. “Normal year” is defined as a year when the farm enterprise was not covered by an Exceptional Circumstances declaration or affected by a natural disaster e.g. flood, fire, cyclone.
6. “Member of a couple” has the same meaning as in section 4 of the Social Security Act 1991.
7. The “Farm Financial Assessment” has the same meaning as the “Farm Business Analysis and Financial Assessment” and is prescribed in the Department of Agriculture, Fisheries and Forestry template known as the Climate Change Farm Financial Assessment
8. “Primary Filter Test” as set out in Schedule 1 to these CCAP Advice and Training Grant guidelines has the same meaning as in the “Farm Financial Assessment”.
9. “Prescribed adviser” has the same meaning as in the Farm Household Support Regulations 1993.
10. A “Climate Change Action Plan” is a plan undertaken by the applicant and the Rural Financial Counsellor or the applicant on a template provided by Centrelink.
11. Advice given by a “Prescribed Adviser”.
12. A person is a “qualified person” if he or she a member of a professional association whose members normally provide advice of a kind that is relevant to the eligible person’s circumstances.
13. “Registered Training Organisation” has the same meaning as it has in the document called Australian Quality Training Framework – Standards for Registered Training Organisations, published by the Australian National Training Authority 2001.
14. Advice must be provided by a person who has relevant qualifications to the advice being provided and is a member of a relevant professional association.
15. “Relevant course” means a course, conducted by a university or TAFE institution or another Registered Training Organisation as generally specified in the Climate Change Action Plan:
- that would help the person manage the impacts of climate change;
- under which a qualification may be attained that would help the person manage the impacts of climate change
16. For example, where the farmer has advised vouchers have been lost; the voucher has not been certified by the Rural Financial Counsellor, or is now claiming another grant and does not wish to continue accessing the CCAP Advice and Training Grant; or has not sought the services of the provider.
17. Farm Management Deposits are offered under the Farm Management Deposits Scheme and are deposits offered by Authorised Deposit–taking Institutions to assist primary producers to deal more effectively with fluctuations in their cash flow resulting from climate variations and changes in market prices.
01 Feb 2012

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