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Reaping what you sow...some notes on primary production land restructure paper

Published on 19 Mar 13 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Your clients contact you asking how to negotiate with a large energy company wanting to install wind turbines on their land. Another client has received correspondence from a mining company seeking to obtain their permission to the granting of exploration rights. Yet another client has been approached by a property developer and is considering re-zoning and subdividing one of their surplus coastal farm land into beachside allotments.

This paper considers the increasing trend of primary production landowners to be involved in transactions with large corporations in the E&R and property development industries. It works through a number of case studies addressing the specific commercial and tax issues arising from transactions of this kind.

Specific topics covered include:

  • taxation treatment of land access rights, easements, profit aprendres
  • nature of gain or profit - revenue or capital and do any concessions apply?
  • when does a farmer become a property developer for tax purposes - how to strategise for optimal outcomes
  • does my client transfer the land to an optimal structure prior to thetransaction - what are the costs and benefits?

Author profile

Peter Slegers CTA
Photo of author, Peter SLEGERS Peter Slegers, LLB (Hons), MTax, CTA Partner Cowell Clarke Peter heads Cowell Clarke's tax and revenue practice group. Peter advises and acts for a wide range of public and private companies as well as for the trustees of self managed superannuation funds. Peter’s areas of expertise include: income tax (as it impacts on business and high net worth clients); capital gains tax; goods and services tax; state taxes and superannuation law. Peter also does succession planning work and is involved in significant business restructures. Peter is regularly involved in advising SMSF trustees on issues associated with superannuation income streams. Peter has a master’s degree in taxation from the University of NSW – ATAX School. Peter is also a member of the Australian Institute of Company Directors and the SMSF Professionals Association of Australia Ltd. Peter is a member of the Tax Institute’s South Australian State Council. - Current at 30 August 2017
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