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Support when you need it

accelerateonline • May 4, 2020

Farming is challenging and unpredictable. That’s why having the support – financially and holistically – is key. Here are several ways you can access guidance during the ups and downs.

#1 The Farm Debt Mediation Scheme

Farmers under financial strain will have access to extra support and guidance from next month. The Farm Debt Mediation Scheme , which comes into play on 1 July, provides mediation services to help farmers and their creditors work through debt issues. This means farmers can expect a structured, confidential, and impartial negotiation process that leads to an agreement on how to proceed.

  • Creditors who lend money to farmers will have to offer mediation before taking enforcement action if farmers default on payments.
  • Business owners in agriculture, horticulture, aquaculture, apiculture and sharemilking can ask for mediation at any time.

#2 Stay well in your bubble

Unexpected challenges put pressure on your business and family, which is why it’s so important to do the little things that keep you sane. Check out www.farmstrong.co.nz for farmer-to-farmer tips and videos (backed by well-being science) on stress, burnout, sleeping, healthy eating, thinking and more.

#3 Tax relief for Mycoplasma bovis farmers

The Government will be introducing legislation to help farmers whose herds were culled in response to the Mycoplasma eradication programme. It will allow you to spread additional income from the cull over the next six years, as long as:

  • the culling of your breeding livestock and your replacements were due to Mycoplasma bovis
  • you’ve used, and continue to use, the national standard cost scheme or the self-assessed cost scheme for your breeding stock
  • you’ve substantially replaced your culled livestock within 12 months.

The legislation is yet to go through Parliament but it will apply retrospectively, from the 2017/18 income year. For more information, head to Inland Revenue’s website.

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Livestock Special Alert 2023

By accelerateonline • June 12, 2023
Inland Revenue have recently announced this year’s livestock Herd Scheme Values and we think this is a great opportunity to update you on the latest movements. The Herd Scheme Values are the National Average Market Values, determined by a process involving a review of the livestock market as at 30 April.

Livestock Special Alert 2023: Dairy Cattle

By accelerateonline • June 12, 2023
The values for Dairy this year have seen a fall in values across all female classes, but increases across all male classes. The fall in R1 heifer values can be attributed to the prohibition of live export by sea commencing from 30 April 2023. For the first time the National Average Market Value for R1 Heifers is less than the National Standard Cost of breeding and rearing an R1 Heifer.

Livestock Special Alert 2023: Beef

By accelerateonline • June 12, 2023
In contrast to Dairy values Beef values have increased on average 9% and are almost at record values for all classes.

Livestock Special Alert 2023: Sheep

By accelerateonline • June 12, 2023
Sheep values have all fallen from the high of 2022, slipping back an average of 10.2%. Whilst values have fallen, they are still either the second or third highest that they have ever been depending on which class of sheep you are looking at.

Livestock Special Alert 2023: Goats

By accelerateonline • June 12, 2023
Goat values have increased on average 7.8% with almost all classes of fibre and meat producing goats at record highs. The value of milking goats continues to be well down from historic highs, except for breeding bucks which are at their highest value.

Accelerate Budget Special Alert 2023

By accelerateonline • May 21, 2023
Like the rest of the world, New Zealand has reeled from the aftermath of Covid, rising inflation and interest rates, and the cost-of-living crisis. This year we also have a massive storm damage repair bill.

Tax

By accelerateonline • May 21, 2023
Any tax cuts, or changes to the tax thresholds were vetoed in Budget 2023 as this was viewed as worsening inflation.

Infrastructure

By accelerateonline • May 21, 2023
Budget 2023 builds on the $889m already provided in response to this year’s storms. A further $6b is allocated for a National Resilience Plan , for rebuilding after weather events. $71b is committed to new and existing infrastructure projects: not only storm damaged communications, power and roading, but schools, hospitals, public housing, rail and road.
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