Policy

Basic principle of the test

DFISA was removed 1 January 2022.  This is for historical reference only.   

VEA→

Life interest in house and curtilage could be retained

Where the farmer retained a life interest in the dwelling house on the [glossary:farm:68], and any surrounding land of up to 2 hectares (ie curtilage), the farmer was treated as a homeowner.    

What is a bonus period

The first bonus period commences on the date of registration or, if the person was a [glossary:non-accruing member:188] at that time, on the first day after the non-accruing membership ceases. Bonus periods are normally continuous, but may be broken by a period/s of non-accruing membership. In this case a bonus period will be broken into two or more periods which cannot add to more than 365 days for a full-year period.

Accruing bonus period

Why must a sugarcane farmer divest all sugarcane farming interests?

One of the aims of RASF is to allow older sugarcane farmers to retire from sugarcane farming. In keeping with this, it is necessary for the sugarcane farmer to dispose of all their sugarcane farming interests if they wish to participate in RASF.

Requirement to divest all sugarcane farming interests

Loan repayment following death 

DFISA ceased 1 January 2022.  This is for historical reference only.    

Last amended: 22 April 2014

Pension bonus impact

The [glossary:pension bonus scheme:673] is designed to encourage a person to defer retirement. Contrary to this, Retirement Assistance for Sugarcane Farmers (RASF) encourages sugarcane farmers to retire. Special rules apply to sugarcane farmers registered under the pension bonus scheme, who subsequently apply under RASF. These special rules are designed to allow them to utilise the benefits of both schemes.

Extension of lodgement period for bereaved partner

Maximum Home Equity Access Scheme loan available