Farmers looking for financial help will benefit from the Federal Government boosting rural financial counselling services across southern NSW by an additional $140,000.

The Federal Government has also announced it will extend financial counselling service provider contracts across Australia to 30 June 2020, at a cost of $17 million.

Federal Member for Hume Angus Taylor said 12 counsellors were employed across southern NSW, including Beverly Houterman at Crookwell.

“Dry conditions are continuing, we’ve had some rain in parts, but the rural counselling service remains very much in demand,” Mr Taylor said.

“Counsellors can help clients with business decisions such as prioritising payments to creditors, negotiating with lenders, and deciding on their long-term plans.”

Crookwell counsellor Ms Houterman said hundreds of local farmers were on her books, resulting in a steady demand for assistance.

“The farming population isn’t getting any younger and I do encourage earlier succession planning where appropriate,” Ms Houterman said.

“Many of my clients believe that because they’re over 60 years old, they will not be able to qualify for assistance. This isn’t true. But there’s also a strong inclination not to take on more debt, especially if interest rates are expected to rise, and if they are being forced to sell off stock now and expect to have to buy back at higher market prices.

“Diversifying your business, again provided you have the scope and the organisational capability, can assist.”

Ms Houterman said the rural financial service had helped facilitate more than 40 grants for regional farmers for flood assistance late last year.

Since 2013, the Coalition Government’s Farm Household Allowance has helped over 7,900 recipients.

Rural Financial Counselling Service Southern NSW at Cooma: Phone (02) 6452 5850