This presentation considers the issues that arise when partners in a primary production business want to bring in new partners or pass the business to the next generation. The presentation covers:
- reconstitution of the partnership and continuing ownership issues
- restructuring using new entities for asset ownership
- livestock and capital allowance rollovers
- Division 152 issues for partners leaving the business
- accounting vs tax treatment of partner exits/entries
- stamp duty exemptions including use of tightly held family trusts.