Updated reference costs will be in place for all eligible applications submitted in tranche 10 of the Targeted Agricultural Modernisation Scheme (TAMS 3), Minister for Agriculture Martin Heydon has announced.

The tranche will open for applications on 10 September. The minister also commented on the high number of applications received to date in the current TAMS 3 tranche, tranche nine, which closes for applications at midnight on Friday, 5 September 2025.

“A review of the TAMS reference costs has now been completed and the revised reference costs will be in place for all eligible applications submitted in the upcoming tranche, which will open for applications on 10 September.

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“A thorough examination of all reference costs has taken place to ensure that they reflect market costs for the construction of farm buildings and facilities, and farm equipment.

Accurate reflection

"This examination is based on a comparison with receipted costs to ensure the revised costs are an accurate reflection of the current situation,” he said.

Minister Heydon said that the huge number of applications for the scheme shows the importance of this scheme to the farming sector and will allow investments in a range of facilities on their farms.

“TAMS has been, and continues to be, a hugely successful and beneficial scheme to the farming community and the wider rural economy. It has delivered key modernisation, environmental and safety improvements on thousands of farms across the country. The revised reference costs, which will be in place for all future applications, will provide farmers with greater confidence in the knowledge that supports provided by my Department will reflect their investment costs,” he said.

The Department is expected to update its website with the updated costings shortly.