We are committed to supporting our primary producers
A Marshall Liberal Government will give farmers support to grow their business by waiving stamp duties charged on multi-peril crop insurance policies.
This helps South Australian farmers manage risks, plant more crops and target higher yields.
And this enables South Australia to capitalise on our world-renowned primary industries sector, in which we have a significant competitive advantage.
Our primary producers are at the forefront of dealing with volatile climatic conditions and damaging weather events.
They need insurance that will enable them to enter a cropping season with the reassurance they can be financially protected for their input costs in the event of an identified peril event such as drought, fire, or flood.
Multi-peril crop insurance (MPCI) covers the production costs incurred by farmers if a crop fails in these circumstances, providing financial security and helping farms and regional communities remain financially viable.
South Australia currently has the highest stamp duty rate on MPCI premiums in the nation at 11% and this is a significant burden and competitive disadvantage for farmers wanting to insure their crops.
That’s why we will remove this burden from our primary producers.