Farm Management Deposit Account

St.George's Farm Management Deposit Account helps you even out the good and the bad years.

Using the Farm Management Deposit Account, you can set aside your before tax income to establish cash reserves to help manage better through the lean years.

Free of any bank charges or account service fees, the account earns an effective rate of interest on all of the funds deposited.

You can deposit as little as $1,000 and as much as $400,000 for a minimum of twelve months and only pay tax when you draw on the funds.

Any deposits in the account will not be included in your taxable income in the year of deposit, as long as the deposit complies with the Federal Government requirements.

Are you eligible?

You can open a Farm Management Deposit Account if -

• You are an individual member of a partnership or an individual beneficiary of a trust and you, the partnership or trust carry on a primary production business for the purposes of tax law.
• You, the partnership or trust have a taxable non-farm production income of less than $65,000
• You do not have a Farm Management Deposit Account with any other Financial Institution.

Download the Application Form

For your convenience, St.George's Farm Management Deposit Account Application Form is available for you to download and print. Please complete the form and take it to your nearest Rural and Business Banking Centre who will open an account, or deposit additional funds into your existing Farm Management Deposit Account, for you.

More information?

If you would like to open a Farm Management Deposit Account, or know more about the terms and conditions for this account, please call into one of our Rural and Business Banking Centres or call on 1300 301 582.