Victorian Young Farmers has welcomed the Victorian Government’s decision to double the threshold for stamp duty concessions for young farmers.LAURA GRIFFIN December 4, 2012 4:10am
Deputy secretary Ellen Grinter said changing the property price threshold from up to $300
‘‘The cost of buying a farm is daunting for young farmers and any move to make it easier for them is backed by the Young Farmers,’’ Miss Grinter said.
‘‘It will speed up the process of young farmers getting started. They bring new ideas and passion to the industry.’’
The Nathalia Young Farmers Club member said under the original scheme the exemption phased down to zero once the farm was worth more than $400
‘‘Land values are going up, so the cost of farms is often higher,’’ she said.
The changes, to be legislated next year, will broaden eligibility from $300
Miss Grinter said the change was a step in the right direction and would help young farmers with start-up costs.
‘‘Young farmers struggle getting all the money together for a deposit and then the stamp duty is a kick in the teeth. There are a lot of other up-front costs, including machinery and the season’s inputs.’’
Victorian treasurer Kim Wells said the change followed a review of the four-year program which began on July 1 last year.
‘‘The Coalition Government set aside $12
He said the take-up of stamp duty concessions had not been as strong as first forecast due to weakness in the national economy and uncertainty created by the global financial crisis.
The review found that pre-existing provisions in stamp duty legislation meant that the scheme currently favoured large, multiple title and multiple farmer transactions.
It confirmed that the threshold was not a barrier to people receiving the concession, but had reduced its value to some young farmers.
Street Rider Night Bus signs have been placed in Shepparton’s central business district to encourage people to use the service that has been cruising along for more than five years.
Police are currently at the scene of a double fatal collision involving two cars in at the Cahill Road, Gilmore Street and Woods Road intersection in Yarrawonga.
Tatura Community House held its annual High Tea fundraiser at the facility on Tuesday, with a full-house present to enjoy a sumptuous morning tea, good conversation and relaxing time together.
The Echuca construction team behind Junction Moama has taken out one of the top honours at a regional building awards ceremony.
Rochester Historical and Pioneer Society hosted an afternoon tea to recognise long-standing members Barrie and Flora Griffin and John and Margaret Harley.
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Scone Equine Hospital relaunches local veterinary practice.
A beauty pamper day has raised a whopping $18k to assist local lady Terri Bevan with her ongoing medical costs associated with her brain tumour
A planning scheme amendment to allow the expansion and redevelopment of the IGA supermarket at Heathcote has been approved by the Victorian Planning Minister Richard Wynne.
Cross-border rivals Cobram and Barooga football netball clubs will contest the 38th Cobram Courier Shield this weekend.
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The G-MW Murray gravity irrigation system has received 35 per cent and the Goulburn system 42 per cent of allocation from July 1.
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