We take pride in supporting our communities and local businesses across Queensland. That’s why we’re excited to introduce our newest offering—the Farm Management Deposit Account (FMDA)—designed specifically to help primary producers manage their finances through the good times and help them be prepared through the challenging times.
Why Choose Our FMDA?
If you’re a farmer or rural business owner, you may know how unpredictable agricultural income can be. Seasonal fluctuations, natural disasters, and unforeseen market changes can make it difficult to plan ahead. That’s where our Farm Management Deposit Account could help.
By setting aside pre-tax primary production income during the more profitable times, the FMDA could allow you to prepare for the difficult periods.
Potential Tax Benefits
If you meet eligibility requirements, you could also enjoy tax advantages.
Here's how it works*:
- Pre-tax money you deposit into the FMDA is deducted from your taxable income for that year.
- When you withdraw those funds, they’ll be recognised as income for that year’s tax return.
- To qualify for these benefits, deposits must remain in the account for at least 12 months.
This could make the FMDA a smart, practical way to smooth out the ups and downs of life on the land.
Features Supporting Your Needs
We understand that every farmer and business is unique, so our FMDA is designed with flexible features to fit your circumstances*:
- No monthly account service fees
- Flexible terms from 3 months to 2 years
- Minimum deposit amount of just $1,000
- Interest paid monthly, annually, or at maturity—you choose the option that works best for you
Speak to Our Team Today
Learn more and about the Farm Management Deposit Account and speak to our team today to explore how this account can support you and your business. Together, we can build a stronger, more prosperous Queensland.
*Eligibility and conditions apply. This information does not take into account your objectives, financial situation or needs. Before acting on the information you should consider the relevant TMD, whether it is right for you and seek your own advice.
