Federal election: Coalition’s scrapping of instant asset write off a concern for NFF

The NFF has run the rule over ag policies from both major parties heading into Saturday’s election, singling out one ALP approach in particular.

The National Farmers Federation has taken aim at Labor’s “tin ear” stance on farmer-developed Ag Visas and wanting to end the live sheep export industry heading into Saturday’s election.

But the Coalition has not escaped criticism from the peak farmer body with the recent revelation the instant asset write off was set to end next year if re-elected despite benefiting thousands of farmers with dedicated agricultural provisions since 2015.

The NFF is supportive of other Coalition policies including rewarding farmers for biodiversity stewardship, reducing export red tape and backing domestic food manufacturing capability.

But NFF chief executive Tony Mahar said farmers wanted the instant asset write off part of the nation’s tax system permanently.

“It supports farmers to invest in assets like tanks and solar water pumps to be better prepared for the next drought; to adopt safer farm equipment like side-by-side vehicles and to extend Wi-Fi across farms to enable digital adoption,” he said.

Deputy Prime Minister Barnaby Joyce and Agriculture Minister David Littleproud.

The regions are expected to play a significant role in the outcome on Saturday, with several seats considered too close to call.

Deputy Prime Minister Barnaby Joyce and Federal Agriculture Minister David Littleproud have made multiple visits to the Victorian seat of Nicholls which the Nationals desperately need to retain despite a strong independent challenge from Rob Priestly.

But critics say opposition agriculture spokeswoman Julie Collins has hardly left her home state of Tasmania since the election was called with big policy announcements on water and Ag Visas have been left to Opposition Leader Anthony Albanese and Shadow Foreign Affairs Minister Penny Wong.

NFF president Fiona Simson said Labor’s Ag Visa snub was putting the “handbrake” on agriculture’s growth.

“We also remain concerned at Labor’s notion to end live sheep exports,” she said.

“It is the NFF’s strong hope, that if elected, a Labor federal government would see for itself the industry’s transformational changes and its consequential bright future.”

Shadow Agriculture Minister Julie Collins has been rarely sighted outside her home state of Tasmania. Picture: Liam Kidston

Mr Albanese said Labor would bolster the nation’s biosecurity system, address the agriculture workforce shortage and give the sector access to up to $500 million through the National Reconstruction Fund.

“We also continue to support the NFF’s ambitious goal to grow the value of Australia’s agriculture industry to $100 billion by 2030,” he said.

But Mr Joyce said the Coalition was best equipped to back regional Australia.

“The Labor Party can’t look beyond the inner suburbs of Sydney and Melbourne, and their campaign announcements have displayed this in their paucity for regional areas,” he said.

Ms Simson also hoped Labor would back the NFF’s Regional Development Precincts proposal if elected.

“Our regions are being left in the dust when it comes to infrastructure and development and as a result, rural Australians face many inequities in their access to fundamentals such as health, education, telecommunications and housing,” she said