• 13
  • Sep
  • 2019
How to Transfer Farm Land to Family Members

How to Transfer Farm Land to Family Members

Intergenerational Farm Transfers – Transfer Duty Concessions for the Family Farm The Queensland Government has abolished transfer duty on family farm properties. These changes are aimed at dealing with legacy issues within the Queensland farming sector by making is financially easier for children to buy their parents property when the latter are seeking to retire. Farming Transfer Duty Concessions – Background Under the previous legislative provision, transfer duty only applied to the transfer of farm land (associated with livestock, plant and equipment) between family members where the transfer was termed as a “gift” and Succession planning was therefore an expensive undertaking for rural families as many families could simply

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