Recorded Webinar: Selling a Farm as a Supply of a Going Concern – Achieving the Best GST Outcome

You are a GST adviser sitting down with a longstanding farming client, Tom. He’s getting close to retirement and the kids aren’t interested in continuing the family farm, so he’s looking for advice on prepping the property for sale. Can you guide Tom to the best GST outcome?

• Supply of a going concern – what’s in and what’s out?

• Path 1: carving out the homestead and curtilage – what counts as curtilage?

• Path 2 – horse agistment being used for personal recreational purposes and some cattle herding

• Path 3 – airstrip that’s part of the property but fenced off from cattle

• Path 4 - Land held by Tom and Mary, farming business held by family trust

• Path 5 – acquisition by property developer

• Path 6 – co-development?