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Part of the Farmer Group Rural Newspapers Covering Victoria Published since 1984
JUNE, 2013
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PAGE 20
PAGES 11-14
year DEALS
37 Rowan Street, Wangaratta 3677
FINANCIAL
PAGES 16-19
Dairy
Budget passes test CHILLED CHERRIES: EVERY year there are crop losses due to frosts in Australia, which costs millions of dollars to fruit growers and broad acre farmers. Frost and fertiliser expert Colin Young offers advice on how to minimise frost damage in the first part of his two part article on frost management. See pages 8 and 9.
By JODIE FLEMING THE State Government has delivered on its election promise to exempt young farmers from stamp duty on the first $300,000 they pay towards their first farm, but the Victorian Farmers Federation (VFF) is disappointed the Government has only allocated $2 million a year to the young farmer program. VFF president, Peter Tuohey, said that despite the State Government’s promise to deliver $3 million annually to the young farmer program, the allocation has fallen short by $1 million. “If Treasury estimates the uptake will be $2 million a year, then we’d argue the remaining $1 million be directed into strategies the VFF has
already identified through its Young Agribusiness Professionals group to recruit the next generation of food and fibre producers,” Mr Tuohey said. “But the Government has delivered on its election promise to exempt young farmers from stamp duty on the first $300,000 they pay towards their first farm. “Young farmers will now gain $13,070 in stamp duty savings on the first land they buy; worth up to $600,000, which then phases down to zero once it’s worth $750,000 or more. “It means young farmers, under 35, are exempt from paying stamp duty of $13,070 on the first $300,000 of agricultural land they purchase,” he said. Continued page 3
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$1 million shortfall for young farmers despite sound and responsible budget