Farm Management Deposit
- This account allows you to set aside pre-tax income in profitable years to establish cash reserves and manage low income periods
- No account service fees and you earn interest on every cent
- Minimum deposit of $1,000, maximum deposit of $800,000
- Deposits into the account may be deducted from your assessable income in the year of deposit, if the deposit complies with Federal Government requirements. Withdrawals are included in assessable income in the year of withdrawal.
How to apply
Conditions and fees apply.
The statements made do not constitute tax advice or any recommendation as to the suitability of the product, and are based on current tax laws and their interpretation. You should seek your own independent professional taxation advice to confirm your eligibility and any taxation implications.
Before acquiring or deciding to hold a product, you should read the terms and conditions that apply to the product.
- Farm Management Deposit Account – Terms and Conditions and General Information (PDF 114kb)
- Important Information Document (PDF 38kb)
- Farm Management Deposit Account – Interest Rates (PDF 284kb)
Please read these documents and keep a copy. You can request a paper copy at a branch.
Issued by Bank of Melbourne, A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 Australian Credit Licence 233714. The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help call 13 82 66.