Amount of direct market assistance
9 Amount of direct market assistance
The amount of direct market assistance that may be given to an eligible applicant for the slaughter of an animal to which section 8(1)(b) applies is the amount that is the relevant percentage of the animal’s accepted value worked out under subsection (2) less the amount of the deduction, if relevant, worked out under subsection (3).
For subsection (1), the amount that is the relevant percentage of the animal’s accepted value is—
if the accepted value is no more than $2,500—25% of the accepted value; or
if the accepted value is more than $2,500 but no more than $3,000—35% of the accepted value; or
if the accepted value is more than $3,000—50% of the accepted value.
If the animal was older than 7 years when slaughtered, the amount worked out under subsection (2) must be reduced by 25% of that amount for each whole year the animal was above that age.
Example—
An animal had an accepted value of $4,000 and was 10 years and 3 months old when slaughtered. Under subsection (2)(c) the amount of assistance would have been $2,000 (50% of $4,000) but, under subsection (3), is reduced by $1,500 (25% of $2,000 cumulatively over 3 years). The amount of assistance is therefore $500.
This section is subject to section 6.
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