Up to $2,500 is available from Farm Management Grants to help primary producers offset the costs to seek professional advice regarding succession planning.
Farm Management Grants
Farm Management Grants are now available to assist eligible Queensland primary producers or their relatives offset the costs of professional advice associated with succession planning.
The objective of the Farm Management Grants is to help primary producers or their relatives offset the costs of professional advice associated with planning the transfer of an interest in the primary production enterprise.
Rebates of up to 50 per cent of the amount paid for professional advice, to a maximum of $2,500 for each financial year of the scheme, are available. To receive a rebate for a financial year, an application must be received in that year and may include an application made before professional advice is received.
Grants are only available for the purpose of obtaining professional advice on succession planning. Grants are not provided for activities related to the costs associated with implementing a succession, estate or financial plan.
Costs eligible for the rebate include those for professional advice provided by suitably qualified professionals including for example, accountants, succession advisors or solicitors
To be eligible for assistance an applicant must demonstrate to QRIDA’s satisfaction that:
- the applicant is a primary producer or a relative of the primary producer; and
- they have paid for, or will pay for, eligible professional advice; and
- the eligible professional advice was received on or after 23 March 2017; and
- the eligible professional advice was or will be provided by a suitably qualified professional adviser who is –
- not related to the applicant; and
- not employed by an entity owned or partially owned by the applicant.
Applications close 30 June 2019.