NAB Agribusiness has reported it has seen extraordinary demand for asset finance over recent months, attributing more than 1,000 new arrangements to the rebate, particularly in the lead up to the end of last financial year.

Businesses with a turnover of less than $2 million can still claim a 50 per cent tax deduction on assets costing $1,000 or more, ordered between December 13, 2008, and December 31, 2009, so the demand is expected to continue.

General manager of Agribusiness, Khan Horne, told the Australian Grain Industry Conference in Melbourne that rain through the grain belt in June spurred on the activity.

"The boost to the season saw a late dash for equipment from many undecided customers, and our agribusiness teams put in many long days to ensure decisions could be made in time to meet the June 30 tax deadline,” Mr Horne said.

Rural Press has reported strong demand for equipment such as headers through the northern part of NSW, where a good moisture profile means growers are enthusiastic about the seasonal products.

The NAB reported that. in terms of dollar value, the most popular category has been ‘agricultural equipment’, which includes balers, air seeders, augers, field bins and silos.

Tractors, trucks, cars and headers/harvesters round out the top five assets that have been funded by NAB Agribusiness.