Farm Management Deposit Scheme (FMD) is a term deposit designed for primary producers to defer your income in years of high earnings to balance taxable income in financial years of low income.
Funds invested in FMD can be claimed as a tax deduction against the primary producer’s taxable income in the year of investment. Conversely, any funds withdrawn from the FMD must be declared as taxable income in the hands of the primary producer in the relevant financial year.
Bank WAW provides very competitive rates for investment terms from one to two years. Please consult your tax adviser for further information about Farm Management Deposits.
| Term |
Deposit |
Interest Paid Quarterly |
Interest Paid Annually |
| 12 - 24 months |
$1,000 - $800,000 |
4.15% p.a. |
4.25% p.a. |
*Above rate is % per annum. Term rate is correct at time of publication but may change without notice. Rates and conditions above $1,000,000 available on application.
WARNING: Before deciding about the product offered by BankWAW, please consider its appropriateness to your circumstances by reading the terms and conditions at bankwaw.com.au.