Recorded Webinar: Death and Taxes: Optimising Tax Arrangements on Rural Asset Holdings and Transfers

The proposed structure of the business entity for the family farm, either as a going concern or following the death of the patriarch, will be heavily influenced by the tax liability and other financial consequences of choosing one structure over another, particularly given the beneficial treatment of primary producers under Government legislation. This session sets out the taxation benefits and disadvantages attaching to particular holding arrangements and the subsequent transfers of farm assets including:

• Primary production eligibility for preferential tax treatment and exemptions
• The tax consequence of property transfers inter vivos and upon death
• Tax implications of changes to trust beneficiaries
• Dismantling corporate and trust entities – extracting profits or share capital tax effectively
• Stamp duty liabilities on property transfers – can these be avoided?
• Capital gains tax exemptions, rollovers and asset reductions
• Triggering a capital gains tax liability
• Holding land in a SMSF – taxation and other benefits
• Centrelink and retirement planning for the older generation
• Avoiding negative tax consequences following family disputes and relationship breakdowns