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AUSTRALIA’S FIRST AND ONLY FMD OFFSET ACCOUNT.
Elders Agri Finance clients can now use their Farm Management Deposits (FMD) to offset interest costs on money borrowed for their primary production business. FMDs allow eligible primary producers to set aside pre-tax income up to $800,000 per individual from good years, which they can draw on in future years when they need it. FMDs can offer can be both a risk and tax minimisation tool, as income deposited into an FMD account is tax deductible in the year the deposit is made and taxable in the year in which it is withdrawn. Contact your local Elders Branch or Agri Finance Manager today Elders Agri Finance P 1300 618 367 E bankmarketing@elders.com.au
An individual can own more than one farm management deposit, and can own farm management deposits with different FMD providers, but the sum of the balances of all the farm management deposits of an owner claimed as a deduction must not be more than $800,000. This information has been prepared without taking into account your personal circumstances, objectives, financial situation or needs. Products are issued by Rural Bank Limited ABN 74 083 938 416 AFSL 238042 and distributed by Elders Rural Services Australia Limited ABN 72 004 045 121 AFSL 237757. Individual circumstances may vary and special legislative requirements must be adhered to. Before making any investment decision you should consider your situation and consult your taxation adviser to ensure you meet legislative requirements and for FMD Offset Accounts that you understand your obligation to comply and the applicable penalties for non-compliance and wider taxation implications. Term, conditions, eligibility criteria, fees and charges may apply. Further details available from your local Elders branch.