Published on 09 Mar 04
by QUEENSLAND DIVISION, THE TAX INSTITUTE
Complex income tax and capital gains tax issues often bog down the restructuring of farming enterprises. This seminar paper explores these issues with respect to variations of partnerships, as well as changes from a partnership to an alternative trading entity and includes:
- the STS provisions and key issues associated with the changes
- the capital allowance issues, including rollover provisions
- the treatment of livestock, including rollover provisions
- capital gains tax issues.
This paper was also presented at the Agribusiness roadshow held in Toowoomba, Gold Coast, Sunshine Coast, Mackay, Townsville and Cairns in May 2004.
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