QRIDA - Rural and Regional Adjustment Act 1994

A summary of our members’ suggestions for improvement of the QRIDA services:

• Better promotion of ‘how to access’ QRIDA services.
• Consideration to expand the service to the broker network.
• Regular loan reviews and/or Face to Face reviews.
• Greater clarity and communication regarding interest rates changes or movements and options to secure fixed rates prior to term rate expiry.
• Longer term loans to ease productivity pressures on business from climate variability over the short term.
• Changes to the QRIDA suite of services to consider loan flexibility mechanisms: Some of the milestones of loan conditions are not always achievable, especially during a drought cycle. Businesses must be allowed to adapt to climate variability and changes to business productivity.
• Increase loan amounts of some programs, as currently some funding offers are inefficient to meet size of some farms’ businesses.
• Improve scope and size of loans to consider succession planning loans that bring family members back to farming.

• Tailored loans:
  • Variable terms and reducing balance loans.
  • HECS style interest rate loans.
  • Unsecured short-term loan facilities.
• Grant funding and programs that assist with:
  • Soil testing.
  • Funding for education of farmers.
  • Assistance with improved agricultural practice.
  • Implementation of knowledge sharing to support soil testing and pasture dieback.
• An expansion and delivery of the business resilience program.
  • ie, encourage land management practices that alleviate land stressors ie, rotational grazing and cropping.
• Lending and programs to assist Australian owned producers rather than foreign owned.
• Lending to support young producers and succession planning, such as a Regional First Farm Buyer Guarantee, similar to the Regional First Home Buyer Guarantee.

AgForce member experiences of the QRIDA assistance programs, response to questions:

1. If you have sought assistance through QRIDA, please provide a brief outline of your experience. What worked well?
   • Generally, the feedback from our member base is positive. Service is easy to engage and has quick turnaround times.
2. Should the Act more clearly enable QRIDA to ask an applicant for more information or for assistance to provide more information before a final decision is made on an application for assistance.
   • The QRIDA application process is sufficiently detailed and members feel they would not benefit from more rigorous application processes. The process is aided by use of Business resilience plans, business plans, etc.
3. Are the provisions providing for the review of decisions made by QRIDA under an approved scheme operating as intended?
   • On the surface, the loan provisions are operating as intended. However, scope may exist to improve scope and size of loans to consider succession planning loans that bring family members back to farming.
   • Tailored loans to allow for longer terms and for the ability to reduce compound loans.
4. Are there other circumstances in which QRIDA should be recovering assistance?
   • Our members appreciate the rigorous application process, though recognise if applicants are not doing the right thing, they should be required to repay monies, especially those pertaining to grants which have not been acted upon. Money should go to the individuals and communities where it is needed most.
5. Is the current provision requiring an approved assistance scheme to be prescribed by Regulation operating well?
   • Members perceive the scheme to be operating well, though there is scope to assist young people move to the land and pass on local knowledge and farming practices.
6. Should QRIDA be able to administer financial assistance on behalf of the Queensland Government outside of an ‘approved scheme’?
   • AgForce members sees QRIDA as an extension of government and that the government does have a role of responsibility to the social environment. An opportunity exists to invest in smaller or young producers, which will in turn contribute to communities and succession planning.