There are a number of issues to consider when transferring the family farm to the next generation or restructuring for asset protection. These include how to transfer, when to transfer and what to do to minimise the transaction costs (being taxation, GST and duty).
In this webinar we analyse:
- issues to consider when transferring assets as part of a restructure
- taxation implications on the transfer of different types of assets
- tips and traps with applying the small business CGT concessions and small business restructure roll-over
- duty issues particular to primary production, including:
- the Queensland duty implications of the transfer of livestock, business assets and interests in land (including the impact of the aggregation rules)
- the specific duty concessions for primary production
- trust cloning for duty purposes
- examples of passing the family farm to the next generation.
Who will benefit from this webinar?
This webinar is recommended for primary producers exploring how to minimise the costs of transferring the family farm to the next generation.
- financial planners
- others who advise primary producers on business succession and asset protection.