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Farm Management Deposit Account with Offset

If you’re a primary producer, you can now use the balance of your At-Call Farm Management Deposit Account (FMDA) to offset and save interest on your eligible Variable Rate Agribusiness Loan (Eligible Loan).

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Why choose a Farm Management Deposit Account with Offset?

Seasonal fluctuations and adverse weather events can have a serious effect on farm income and cash flow. If you’re a primary producer, our FMDA with offset could help you save money for when tough times come and reduce the interest payable on your Eligible Loan. The interest payable is calculated on the balance owing on the Eligible Loan, less the balance of your At-Call FMDA. This allows you to pay less interest on your Eligible Loan, while still receiving the benefit of having a FMDA. Some conditions apply (find out more about eligibility).

For further information, please visit the Australian Tax Office (ATO) or Department of Agriculture & Water Resources sites.

Key features

  • Reduced interest payable on your Eligible Loan when operating in offset mode
  • A one off $300 Offset establishment fee with no ongoing fees
  • One FMDA to be linked to one Eligible Loan

How can this account provide potential tax benefits?

As long as you’re eligible, any deposits made into your FMDA are tax deductible for the financial year in which they’re made. This money only becomes taxable income in the financial year when it is withdrawn. This benefit continues while operating in offset mode.

It is important to remember you will not earn interest on the balance FMDA during that period.

Deposits must remain in the FMDA for a minimum of 12 months to qualify for tax benefits.

This information doesn’t take into account your own objectives, financial situation or needs. If you use a FMDA to offset the balance of an Eligible Loan, this may have a broader impact on your tax position. For example, if you use the offset mode to reduce your interest expenses, that could impact the level of tax deductions available for you to claim.

You should seek professional advice from your registered tax advisor as to how this product may affect your tax position.


To be eligible for a FMDA with offset:

  • You must hold an Eligible Loan in the name of the FMDA owner or a partnership which includes the FMDA owner.
  • Your FMDA must be linked to your Eligible Loan through an offset arrangement.
  • You must conduct a primary production business as either a sole trader or in partnership.
  • The Eligible Loan being offset must relate wholly to your primary production business.
  • You must hold an Eligible Loan with Suncorp.
  • All relevant FMD scheme conditions set by law and the ATO must continue to be met.

If you breach a condition, the ATO can impose significant penalties.


A once off $300 offset fee is charged to your linked Eligible Loan account.

Product Information Document

For more information about the Farm Management Deposit Account with offset, download our Product Information Document.

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Or contact one of our Agribusiness specialists

Other Business Account options

This information does not constitute tax advice. You should seek professional advice from your registered tax adviser as to how this product will impact your tax position. Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Information Document before making any decisions about whether to acquire a product.

Deposit products issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL 229882 (“Suncorp Bank”). Fees, charges, terms and conditions apply and are available on request.