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Farm management deposits (FMDs) are a risk management tool to help farmers deal with unpredictable income, caused by natural disasters or climate and market changes. The deposits scheme complements other risk management strategies available to primary producers, such as building fodder and water reserves, financial planning, and diversifying production systems.
If you are a primary producer, this scheme allows you to claim a tax deduction for farm management deposits you make in the income year you made them. If you withdraw a farm management deposit, the amount of the deduction you claimed is included in your assessable income in the income year the deposit is repaid to you.
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