This session considered:
- succession planning where the landholders either meet or do not meet the small business CGT eligibility criteria
- the influence of tax on a decision to transfer property and business assets during the landholders' lifetime as opposed to the transfer of property by means of a Will and the influence on the decision of the nature of the entity that holds the primary production asset
- are there assets that can be transferred during the lifetime of the current primary producers (e.g. trading stock and depreciating assets) and other assets (land) that can pass on death
- structuring a will and existing entities under a succession plan for the protection of assets from personal relationship and business risks, while ensuring security of retirement income to the landholders.