Tuesday, March 26, 2024

Cash advance change rolled back


 

The federal government has changed its mind and is setting the interest-free portion of cash advances at $250,000.


It was $350,000 during the COVID-19 pandemic and the government said it would be set at $100,000 for this year.


The change came after farm organizations complained.


Cash advances can be taken out for up to $1 million against crops and livestock.