Farm Financial Update

About the update

Each year, we will ask you to complete a Farm Financial Update (FFU) by providing information from your most recent tax returns.

Your Farm Household Case Officer (FHCO) will discuss the FFU with you and send you a letter asking you to provide information.

You’ll usually have one month from the date of our request to complete your FFU. If you need more time, call your FHCO as soon as possible.

If you do not complete your FFU, we may stop your payment

If you have a partner and you share a Farm Financial Assessment (FFA), you can also choose to share the FFU.

What you need to do

You will need to complete the FFU online. If you don’t have a myGov account or Centrelink online account, you’ll need to create them. If you have a myGov account and a Centrelink account, they need to be linked.

1. Sign in to myGov and select Centrelink.
2. Select Payments and Claims.
3. Under Claims, select Farm Financial Assessment.
4. Select and complete the Farm Financial Update task.

Sign in to myGov

You may also be able to access your FFU via the online task on your Centrelink home page in your myGov account.

The FFU must be completed by the due date. If you need more time, call your FHCO.

If you can’t access the online task, you will need to call the farmer assistance hotline for help. A service officer can help you to complete the task.

How to complete the Farm Financial Update

You will need to have your tax return and financial documents ready to complete the update.

You will also need details of all the following:

• any personal or business debts, including debts from any other non-farm business
• any farm business, other business or personal expenses
• current income, including income from non-farm employment, rental income, other personal income, income from other businesses and payments from us
• details of any farming, other business or personal assets and investments.

Assets and investments can include any of these:

• bank and building society accounts
• farm management deposits
• shares, including any shares your farm enterprise must hold
• managed investments.

How to give us documents

You may also need to give us your completed tax return documents. You can upload your documents online. We will advise you when you need to provide these documents.

If you can’t do this online, you can send them to us at:

What happens next

Your FHCO will review the FFU to help support you during your time on FHA.

Your FHCO will also use this information to:

• provide targeted advice
• build mutual understanding
• support informed decision making.

We may also use the information to assess your ongoing eligibility to Farm Household Allowance.

The outcome may be:

• no change to your current payment
• a change to your current payment.

You can view your completed FFU through your myGov account under Historical Information.

1. Sign in to myGov.
2. Select Payments and Claims.
3. Under Claims, select Farm Financial Assessment to view your completed Farm Financial Update.

Sign in to myGov

How to get help

If you need help, you can contact your FHCO or the farmer assistance hotline.

If you need help with your Centrelink online account, use our online help guides.

We can help if you’re in crisis or need special help. This includes if you’re in severe financial hardship, recovering from a disaster or need special assistance.