Policy

This section outlines the eligibility requirements for a PCC and benefits available to PCC holders.

This section outlines policy concerning the application of the $500,000 assets limit that applies to farm assets transferred under RAFS. It also covers policy concerning assessment of the value of farm assets for the purposes of RAFS.

Cancelled membership

Membership of the [glossary:pension bonus scheme:673] is cancelled when:

Annual notional pension rate

This section outlines the requirements that applied to a person who disposed of a farm under RAFS. Such a person included a qualifying farmer, the former partner of a qualifying farmer or the widow or widower of a qualifying farmer.

This section contains the following topics:

This chapter outlines the eligibility requirements and payment arrangements for [glossary:rent assistance:367].

See Also

Last amended: 19 August 2009

What is RASF

RASF was part of the Federal Government's 2004 Sugar Industry Reform Program, announced by the Prime Minister on 29 April 2004. RASF was a scheme that intended to allow older sugarcane farmers to transfer ownership of the family sugarcane farm or farms, by way of gift to the younger generation, without affecting the retiring sugarcane farmer's eligibility for income support, or rate of income support.

Pension Bonus Scheme

Chapter 11.6 Taxation

Chapter 5.5 Retirement Assistance for Farmers Scheme (RAFS)

Chapter 3.1 Service Pension Eligibility

Chapter 3.2 Income Support Supplement (ISS) Eligibility

Life interest retained in principal home on farm

Section 49R(5) VEA