Last night’s budget came out strong with agriculture outcomes looking forward to our $100 billion industry goal. It’s the Coalition’s final budget before the election, announcing $600 million for producers and regional communities.
We’ve put together the quick details, so you don’t have to go digging.
Trade & Export
- $267.1m in a whole-of-government, Simplified Trade System to streamline trade processes
- $127.4m to the Digital Services to Take Farmers to Markets initiative for delivery of government agricultural export systems & services to agricultural exporters, farmers & producers
- $11.7m to expand Austrade’s Trade Information Service to additional agricultural industries & importers
- $7.7m to undertake essential work to consider processes to facilitate agricultural exports and underpin biosecurity
Pests & Disease
- $61.6m to boost Northern Australia’s frontline biosecurity
- $10m to support state & territory agriculture departments to undertake necessary surveillance & control activities related to Japanese encephalitis virus
- $20m grant program, delivered through interested states and territories, to improve on-farm biosecurity & enhance pest & disease traceability
Stewardship
- $27.3m to help deliver a voluntary biodiversity market
- Improved tax treatment of income from Australian Carbon Credit Units (ACCUs) & biodiversity certificates – expected to reduce taxes paid by eligible primary producers by $100m over 4 years
Innovation
- $23.4m over 4 years to extend the recently developed patent box regime
Drought Resilience
- Allocating an additional $84.5m (& $10.0m over 2 years from 2026-27) to consolidate the 4-year Drought Resilience Funding Plan
Shows & Field Days
- $15.4 million to deliver a second round of the Agricultural Show Development Grants Program
- $12m investment into sponsorship of large agriculture trade events
Forestry
- $90.6m over 5 years from 2021 22 to support the sustainability of the forestry industry & to respond to emerging challenges
- $86.2m over 5 years will support states & territories in establishing new plantations
- $4.4m over 2 years to strengthen Australia’s illegal logging traceability & timber identification systems
For more information on the 2022-23 Budget, visit: www.budget.gov.au