There are 5 key changes that will affect you if you claim or are preparing to claim FHA.
A new combined assets test
The assets test now combines farm and personal assets under a single $5.5 million limit. They used to be separate.
Changes to how much you can get
If you’re eligible for FHA, we’ll pay you at the maximum rate. Your payment will no longer reduce if you earn extra income.
A change to the Farm Financial Assessment
We’ve relaxed rules about who can help you do your Farm Financial Assessment.
The main change is we no longer require the person to be a member of a professional association.
Increase to activity supplements
The activity supplements total amount is now $10,000.
It used to be $4,000.
This amount is available once. It doesn’t reset each time you get FHA.
Changes to activity supplements
Before, you could use activity supplements to help pay for activities in your Financial Improvement Agreement. This included training, study, advice or counselling.
You can now also use them to pay for travel and accommodation to do an activity.
You still need to check with your Farm Household Case Officer first. They’ll tell you if you can pay for the activity with an activity supplement.
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