Farm Water Program funding is released in rounds.
The most recent round, Round 5, is now closed.
Those with approved projects should note that two contracts will be required for Farm Water projects. They are:
- An infrastructure (or works) contract between the Goulburn Broken Catchment Management Authority and the landowner and water share owner.
- A water transfer deed contract between Goulburn Broken Catchment Management Authority and the water share owner.
Please note that you will still need to be able to meet the eligibility criteria before contracts are signed.
For further information about developing and implementing contracts, refer to the documents below.
Victorian Farm Modernisation Project (VFMP) Contract Samples
Amendments to Income Tax Assessment Act 1997
The Australian Tax Office (ATO) has issued guidance on its website in relation to the amendments to the Income Tax Assessment Act 1997 regarding the taxation of Sustainable Rural Water Use and Infrastructure Program (SRWUIP) grant payments.
The following link will take you to that guidance: www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Other-income,-deductions-or-offsets/Sustainable-rural-water-use-and-infrastructure-program/
If you have problems accessing the link, you can go to www.ato.gov.au and search SRWUIP.
Please direct any other enquires to your tax advisor or the ATO.