Farm Debt Restructure Office

No. QRIDA oversees the Farm Debt Restructure Office including the Farm Business Analysis Assistance application process and the pre-approved panel of  financial independent consultants. The purpose of the program is to provide independent specialist rural financial advice.

QRIDA’s Regional Area Managers located throughout Queensland can help refer potential applicants to the Farm Debt Restructure Office for assistance.

Yes. Producers can engage the independent consultant at their own cost to assist in implementing options provided in the report. Where further engagement is sought it will be the sole responsibility of the individual and independent consultant.

The process is to be completed within eight weeks from approval of assistance. This may be subject to the availability of the parties involved and information. Where circumstances arise that warrant an extension, the Farm Debt Restructure Office must be notified to formalise a deferral to a later date.

No. Assistance only relates to obtaining professional services in compiling the analysis report. If the producer seeks to implement options from the Farm Business Analysis Assistance, they do so at their own cost.

Farm Business Analysis Assistance includes an assessment of past, present and projected position of the farm business summarised in a report. The report includes analysis and options based on the current and potential future of the business. The service is provided free of charge to the producer.

No. Producers are not required to implement any options provided in the report.

Farm Business Analysis Assistance includes an assessment of past, present and projected position of the farm business summarised in a report. The report includes analysis and options based on the current and potential future of the business. The service is provided free of charge to the producer.

Yes. The service is not restricted by the presence of existing facilities.

No. However the Farm Debt Restructure Office will undertake a follow up review to understand what options, if any, have been implemented.

Producers are free to disagree and encouraged to discuss the findings of the analysis report with their independent consultant. The aim of the assistance is to provide independent and objective analysis at no cost to the producer. Concerns must be raised direct with the independent consultant. The Farm Debt Restructure Office will ensure they have been adequately addressed.

No. The Farm Business Analysis Assistance provides specific, independent expert financial advice for the primary producer in addition to their regular accountant, financial advisor or Rural Financial Counsellor. An eligible primary producer can select an rural financial expert from a pre-approved panel of independent consultants overseen by QRIDA.

The Rural Financial Counselling Service which is funded by the Australian Government often provides assistance and support to a primary producer over a period of up to 3 years whereas the Farm Business Analysis Assistance is a more timely and immediate review of the producer’s financial situation and future restructure, repair and recovery options.

The Farm Debt Restructure Office will aim to provide applicants with a decision within 15 business days of receiving a complete application.

Yes. As part of the service one on-farm visit is mandatory to ensure your commitment to the service provided and to enable the independent consultant to fully understand your business position and financial challenges.

Yes. Applicants have the right to a review of their eligibility decision and are required to respond in a formal appeal letter within 30 business days.

Yes. The independent consultant may need to clarify information around the nature and terms of the businesses term debt to establish a more accurate picture of the enterprise for the report.

The application form lists all required documentation needed to apply for this assistance, for example a statement of assets and liabilities, past years financial statements, taxation returns etc.