|
|
|
|
|
Note: THIS SCHEME CLOSED on 12 July 2007 and the following INFORMATION is FOR HISTORICAL PURPOSES ONLY.
RASF allows older sugarcane farmers who meet certain qualifications to transfer ownership of the family farm to the younger generation, retire and gain access to Age. The scheme offers a 3 year moratorium on the gifting provisions, which allows retiring farmers to gift sugarcane farm(s) valued at up to $500,000 without affecting their eligibility for Age.
RASF will operate from 13 July 2004 to 12 July 2007 inclusive.
Partners who are non-pension age will be able to access other payments such as NSA, provided one of the partners is of age pension age.
Once a person has qualified for Age or another departmental payment by accessing RASF, they MAY also receive:
The surviving member of a couple (1.1.M.120) may be eligible for bereavement payments following the death of a partner (1.1.P.70).
Following the death of a single pensioner a bereavement payment may be payable to the person best entitled to it.
RASF is part of the Federal Government's 2004 Sugar Industry Reform Program, which was announced by the Prime Minister on 29 April 2004. The scheme provides a 3-year window of opportunity, to encourage low income, pension-age sugarcane farmers to retire from sugarcane farming and gift their sugarcane farm to a younger generation without affecting their eligibility for Age. It is targeted at those sugarcane farmers and families who are living in hardship because their farms, which due to low world sugar prices may only be capable of supporting one family, are being required to provide a living for 2 or more families.
Act reference: SSAct section 1185M to section 1185Y Retirement assistance for sugarcane farmers
Policy reference: SS Guide 1.2.3.10 Age Pension (Age) - Description
_______________________________________________________
Last reviewed: 5 September 2011
