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The Hon Dr Sharman Stone MP
Federal Member for Murray
Parliamentary Secretary to the Minister
for the Environment and Heritage


25 January 2000

LANDCARE FUND GIFTS TAX DEDUCTIBLE


Donations of $2 or more to Victoria's Landcare Revolving Loan Fund Ltd will be tax deductible following approval from the Federal Government, Sharman Stone, Federal Member for Murray, announced today.

The decision comes as a boost for the fledgling rural organisation, who specialise in providing low cost loans to local farmers undertaking environmental works to promote ecologically sustainable development.

"This is an innovative new natural resource initiative developed and run by local farmers for local farmers," Sharman Stone said.

"While it compliments the goals of the Natural Heritage Trust, different eligibility criteria means it may be available to farmers who are unsuccessful or ineligible to apply for Trust funds."

The Revolving Loan Fund is a not-for-profit company owned by Landcare groups in the Broken River Catchment.

Loans are available for activities such as:

"Having tax deductibility status will greatly assist efforts by our campaign team to attract donations of capital," Secretary of the Fund, Derek Mortimer, said.

Loan amounts vary between $1,000 and $5,000, and are repaid at a quarterly rate of $250. A small administrative fee of $30 per $1,000 is also payable.

For further information about the Landcare Revolving Loan Fund please contact Mr Derek Mortimer on telephone (03) 57611516.

Commonwealth of Australia