Feeling the pinch?

Finance plays an essential role in every business, including farming, growing or agri-business. Related to this are matters such as debt management, tax management and business structures.

Usually you can see a way ahead and you are working with your accountant and bank.

But sometimes you feel financially stuck. You may want to discuss this with someone and we’re here to help.

Also, following is information about some assistance we may be able to help you tap into.

New fund to get advice for struggling farmers is now open

Joint statement by the National Council of Rural Support Trusts and New Zealand Bankers’ Association, 25 February 2020

A new initiative funded by banks and the government offering support for farmers struggling with farm debt is now up and running. 

The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts.

For a qualifying farmer the Fund will provide up to $6,000 to pay for financial or business advice from an independent consultant.

The National Council of Rural Support Trusts and New Zealand Bankers’ Association have recently signed the agreement for the Fund. Under the agreement, the RSTs will provide up to $3000, depending on an assessment of need, and the relevant bank will match that dollar for dollar.

RST National Council chair Neil Bateup says the fund is for a farmer who is feeling pressure. “This might be because there’s been some change or their bank has indicated they need to discuss their debt situation. The hope is that there may still be options available so that the wishes of all parties can form a solution for going forward.”

“There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” says New Zealand Bankers’ Association chief executive Roger Beaumont. “This will inform conversations between the farmer and their bank.”

Rural Support Trusts will take an application from, or on behalf of, a farmer who might qualify for assistance.

The consultant will provide a report, which will be given to the farmer and their bank.

This initiative involves ASB, ANZ, BNZ, Heartland Bank, Rabobank, SBS Bank, TSB and Westpac. 

Farm Debt Mediation Scheme and Hardship Fund – from 1 July 2020

The Farm Debt Mediation Act was passed into law on 13 December 2019, and the Scheme – with an associated hardship fund will become operational on 1 July 2020.

Read more 

END

 

News & Alerts

Getting through the Waikato Hauraki Coromandel Drought

24 March 2020

Tuesday, March 24, 2020

Author: WandaLeadbeater
This week's update in relation to support for the Waikato Hauraki Coromandel Drought.

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COVID-19 - SRST Operations Amendment

SRST Service modified for the protection and wellbeing of SRST Members and Clients

Monday, March 23, 2020

Author: LindsayWright

Continuing Support for Our Rural Communities

Health and safety is paramount for the Southland Rural Support Trust. We are therefore monitoring the COVID-19 situation closely and will make appropriate changes to our work practices in line with the Ministry of Health’s recommendations.

 

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Categories: Southland

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Bay of Plenty Drought Support kicks in

Large scale event classification

Saturday, March 21, 2020

Author: Terri Anderson

Media Release                                                                                                            For immediate release

21 March 2020

Support kicks in for Bay of Plenty farmers in drought

As drought grips many parts of the country, the ongoing challenges faced by farmers in Bay of Plenty have prompted the Bay of Plenty Primary Sector Coordination Group (PSCG) to draw on recently released Government funding.

 

 

Agriculture Minister Damien O'Connor last week classified the drought in the North Island, parts of the South Island and the Chathams as a large-scale adverse event, unlocking up to $2 million in Government funding to support farmers and growers from now until June 2021.

 

Miles Mander, chair of the Primary Sector Coordination Group (PSCG) and Bay of Plenty Rural Support Trust said that primary industry representatives and agencies had been monitoring the drought situation in the Bay of Plenty for several months.

 

“We were about to request drought classification for the BOP to support farmers and growers when the Minister made the announcement, which includes the BOP.”

 

“This drought package provides funding to the Trust to ramp up its support to farmers and growers who are struggling with the drought conditions. I encourage farmers who are finding the going tough and need help, or know someone that does, to get in touch with the Trust for a confidential chat and some guidance from one of the team.”

 

Drought classification also unlocks access to IRD’s Tax Equalisation Scheme and Rural Assistance Payments (RAPs) to help families in extreme hardship. The Rural Support Trust can support applying for RAPs which are the equivalent of the jobseekers’ allowance.

 

Due to the impacts of COVID-19, PSCG industry stakeholders’ BBQ events had been cancelled. “Now is the time to get creative and find alternative ways to support those affected by drought in these changing times,” said Miles.

 

BOP Provincial Federated Farmers President Darryl Jensen said that while current conditions were putting a real strain on farmers, with support they would come out the other side.

 

“Bay of Plenty farmers are resilient but this drought seems never-endin

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Categories: National, Bay of Plenty

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Getting through the Waikato Hauaraki Coromandel

17 March 2020

Tuesday, March 17, 2020

Author: WandaLeadbeater
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Donations

We are a voluntary Charitable Trust and would welcome your donation to help us continue supporting our Rural Families.

You can make a donation to Waikato-Hauraki-Coromandel Rural Support Trust in the following way:

Bank Transfer:
ANZ Bank 06-0317-0805560-01, ref: Donation

Please email us for a receipt.