Preparing for Your Farm Financial Assessment

Preparing for your Farm Financial Assessment

This document has been prepared to assist farmers to gather all the information that they will need to take with them when they meet with their prescribed adviser to conduct their Farm Financial Assessment (FFA). Please do not fill in the information identified in this document. It is intended to help you complete your FFA; it is not the FFA itself. Where a field in the FFA is not relevant to you or your partner, it will not appear in your final assessment.

Document checklist

Make sure to take the following documents to your appointment with your prescribed adviser.

A copy of your FFA letter, including your login details for the online FFA / 
Any current or recent business plans, agronomy plans or financial plans / 
Copies of your last three years’ tax returns and financial statements (including profit and loss statements and balance sheets) / 
Details of your current income including Department of Human Services payments, income from off-farm employment or rental income / 
Details of any superannuation payments, annuities and other income / 
Details of all assets and investments including bank and building society accounts, farm management deposits, shares or managed investments / 
Details of all personal and business debts / 
Details of any planned expenditure (e.g. children’s education, maintenance expenses) / 
Copies of any additional financial information that you provided in support of your application for Farm Household Allowance / 

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Financial Information

Below is the type of financial information that your prescribed advisor will require to completePart B of your Farm Financial Assessment.

Asset information

What is the value of the farm business assets, the applicant’s (and partner’s) share of the farm assets and their additional personal assets?

Asset / Brief description
(e.g. Livestock type, number, $/head) / Current market value of farm assets
($) / Applicant’s (and partner’s) share of farm assets
($)
Farm land (including land leased to others)
Please state who valued the land e.g. bank, Australian Valuation Office
Tradable water entitlements (irrigation entitlements, water access licences etc)
Money owed to farm, applicant or partner
Livestock
Type / No.
Type / No.
Type / No.
type / No.
Vehicles
Plant and equipment
Saleable produce on-hand
Outstanding crop or produce payments (e.g. grain pools)
Cash at bank
Farm Management Deposits
Other financial assets (fixed deposits, bank bills, debentures etc)
Share portfolio held
Superannuation (current estimated value)
Off-farm investments (investment property, other businesses, holiday homes etc)
Other (provide details below)

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What is the farm business debt?

Type of debt / Total balance of debt owing
($) / Next minimum repayment due / Repayment frequency
(weeks) / Repayment due in the next 12 months / Are payments up to date? / Interest rate
(%) / Interest type / debt term remaining
(months)
Term loans, commercial bills, fixed rate loans
No / Yes / fixed / variable
Debt is owed to: / Interest only: Yes/No
No / Yes / fixed / variable
Debt is owed to: / Interest only: Yes/No
No / Yes / % / fixed / variable
Debt is owed to: / Interest only: Yes/No
No / Yes / fixed / variable
Debt is owed to: / Interest only: Yes/No
Overdraft / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Private loans and loans from family / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Hire purchase and chattel mortgage / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Finance Lease / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Liens / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Livestock agents / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Trade creditors / accounts payable / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Credit card / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Taxation debt / No / Yes
Entitlements owing to employees / No / Yes / fixed / variable
Debt is owed to / Interest only: Yes/No
Other farm debt (give details below) / No / Yes / fixed / variable
Debt is owed to

What are the applicant’s (and partner’s) personal debts?

Type of debt / Total balance of debt owing / Next minimum repayment due / Repayment frequency
(weeks) / Repayment due in the next 12 months / Are payments up to date? / Interest rate
(%) / Interest type / debt term remaining
(months)
Term loans, commercial bills, fixed-rate loans
No / Yes / fixed / variable
Debt is owed to:
No / Yes / fixed / variable
Debt is owed to:
No / Yes / % / fixed / variable
Debt is owed to:
No / Yes / fixed / variable
Debt is owed to:
Overdraft / No / Yes / fixed / variable
Debt is owed to
Loans from family of friends / No / Yes / fixed / variable
Debt is owed to
Hire purchase and chattel mortgage / No / Yes / fixed / variable
Debt is owed to
Finance Lease / No / Yes / fixed / variable
Debt is owed to
Liens / No / Yes / fixed / variable
Debt is owed to
Trade creditors / accounts payable / No / Yes / fixed / variable
Debt is owed to
Credit card / No / Yes / fixed / variable
Debt is owed to
Taxation debt / No / Yes
Other personal debt (give details below) / No / Yes / fixed / variable
Debt is owed to

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Farm profitability information

Farm income

Previous financial year 1
(20__­ 20__) / Last full financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Beef cattle
Sheep and lambs
Wool
Milk and dairy produce
Pigs
Poultry and eggs
Honey or bee products
Other livestock or livestock products
Grain, oilseed and pulse sales (including pools)
Fodder (hay and silage)
Cotton
Sugar cane
Vegetables
Nursery and floriculture
Wine grapes
Berry fruit
Apples and pears
Stone fruit
Citrus fruit
Tropical fruit
Other horticultural crops
Other crops—not elsewhere included
Off-farm share farming receipts
Aquaculture
Forestry
Agistment
Rebates
Contracting income
Rent received from land leased to others
Interest received
Royalties
Government assistance to farm business
Sundry receipts
Accommodation, agri-tourism, food service etc.
Other farm income (list below)

Farm expenditure—non-variable expenses

Previous financial year 1
(20__­ 20__) / Last full financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Depreciation
Wages for permanent labour
Stores and rations
Accounting
Bank and legal fees
Telephone(exclude % personal use)
Electricity (exclude % personal use)
Postage and stationery
Subscriptions
Advisory services
Insurance
Travelling and entertainment expenses
Other administrative costs
Water charges
Rates—shire
Rates—land protection
Rates—other
Interest paid on business loans
Principal repayments on business loans
Land rent
Leasing costs
Plant hire
Motor vehicle expenses
Other cash costs (list below)

Farm expenditure—variable expenses

Previous financial year 1
(20__­ 20__) / Last full financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Sheep purchases
Beef cattle purchases
Other livestock purchases
Wages for casual and part-time labour
Wages for shearers & crutchers
Fertiliser
Fodder
Seed
Crop and pasture chemicals
Veterinary chemicals and other livestock materials
Fuel and lubricants
Packing materials
Dairy supplies
Tree and vine replacement
Repairs and maintenance—buildings and structures
Repairs and maintenance—plant and equipment
Wool packs
Other materials
Contracts—cropping
Contracts—livestock
Contracts—other
Total freight
Handling and marketing charges
Agistment
Veterinary fees
AI, stud and herd testing fees
Rent—excluding land rent
Packing charges
Other services
Produce purchased for resale
Payments to sharefarmers
Taxation payable on business income
Other cash costs (list below)
Term loans, commercial bills, fixed rate loans
Overdraft
Private loans and loans from family
Hire purchase and chattel mortgage
Finance Lease
Liens
Livestock agents
Trade creditors and livestock agents
Credit card
Taxation debt
Personal loans
Entitlements owing to employees
Other farm business debt (give details)

Personal financial information

Personal income

Previous financial year
(20__­ 20__) / Last financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Interest received on personal investments
Interest received on personal loans to others
Net income from other businesses
Dividends and other net income from investments
Off-farm salary and wage net income
Government sourced benefits household payments
Other personal net income (list below)

Personal expenses

Previous financial year
(20__­ 20__) / Last financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Household consumption expenditure (e.g. food, clothing, holidays)
Telephone
(exclude % business use)
Electricity
(exclude % business use)
Interest on personal loans
Principal repayments on personal loans
Registration of motor vehicle (exclude % business use)
Rent or Rates less % farm use
Bank fees/charges on personal accounts
Taxation payable on off-farm income

Personal debt

Previous financial year
(20__­ 20__) / Last financial year
(20__­ 20__) / Current financial year
(20__­ 20__)
Term loans, commercial bills, fixed rate loans
Overdraft
Private loans and loans from family
Hire purchase and chattel mortgage
Finance Lease
Liens
Trade creditors/accounts payable
Credit card
Taxation debt
Other personal debt (give details)

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