A PUSH to accelerate depreciation on hail netting and fodder storages to protect farms from natural disasters is gaining momentum.
Victorian Farmers Federation members have started a campaign to give farmers tax incentives to protect farms against Australia's climatic extremes.
A VFF statement said farmers were limited under tax office rules from claiming accelerated depreciation on assets that protect farms and want a statutory cap on the effective life of primary production assets.
Victorian agriculture minister Peter Walsh said today he supported the plan in principle and would discuss it with the other states.
"I plan to raise the matter for discussion at the next Standing Council on Primary Industries meeting which is to be held in April," Mr Walsh said.
"However, any decision would be ultimately made by the Commonwealth Treasurer."
VFF horticulture president Sue Finger said that an accelerated depreciation rate of 30 per cent per annum would make production system and food supplies more reliable.
"In addition to depreciation, investment allowances offer incentives that encourage primary producers to invest in assets that protect our farms," Mrs Fingers said."Not only will this assist farmers operate a more successful business, it protects fresh food supplies for the rest of the state and builds confidence and resilience into agricultural businesses.
"It means orchardists would be able to invest in more netting to protect their crops and Victoria's fruit supplies against the sort of hail damage we saw at Christmas.
"The problem is a large number of farmers are excluded from accelerating the depreciation on assets that protect their farms, if they have a turnover of $2 million or more. This is not a high turnover given farmers earn such low margins."