Farmers set to benefit from budget

Riverina farmers are among this year’s budget’s big winners, with $300 million in drought relief and big tax breaks for fencing and water retention facilities announced on Tuesday night. Farmers will be able to claim an immediate deduction on the bill for new fencing and water infrastructure, effective from July next year. Gogeldrie grower Rob Houghton said it would provide an incentive to irrigators to upgrade to automated systems.

The budget also provided small businesses with immediate tax deductions for items costing less than $20,000. It’s great news for growers looking to update or upgrade their grove, processing or packaging equipment to increase efficiency and viability – Ed.