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The Stamp Duty and CGT Issues upon Transferring Primary Production Assets between Related Parties seminar paper

Published on 31 Oct 03 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

Advisers are often consulted on the income tax and CGT implication of transactions, but not the resulting stamp duty and GST implications. This seminar paper explores the practical stamp duty and GST issues upon transferring primary production assets between related parties, including the specific concessions available for primary producers.

GST issues include:
- the supply of a going concern
- subdivided farm land
- residential premises
- agistment
- registrations and input tax credits
- discretionary trusts

Stamp Duty issues include:
- farming property exemptions
- land-rich corporations
- losses
- partition of property
- stamp duty
- review of the recent amendments and proposed amendments to the Stamp Act.

Author profile:

Adam Levin CTA
Adam is a Partner in the Corporate and Commercial team at Jackson McDonald. Adam has over 20 years experience in commercial and taxation law, including state and federal taxation, commercial transactions, trusts, charities and not-for-profits. Jackson McDonald, led by Adam, has been a leader in the WA market for many years in the native title space. The firm has been invited to work closely on the majority of the state’s major native title settlement packages. Adam is well regarded nationally for his expertise and forward-thinking on tax-effective trust structures for managing native title benefits. He has remained a key participant in the national “debate” on the appropriate tax framework for native title benefits. His contributions are noted in the Mineral Council of Australia’s submission to the Federal Government Working Group on Taxation of Native Title which is based on his 2007 publication entitled “Improvements to the Tax and Legal Environment for Aboriginal Community Organisations and Trusts”. Adam has been at the forefront of this changing landscape for the past decade and is committed to the growth of the Indigenous sector. Current at 07 October 2014 Click here to expand/collapse more articles by Adam LEVIN.
 

This was presented at Primary Concerns.

Get a 20% discount when you buy all the items from this event.

Individual sessions


Tax Treatments of the Sale of Grain

Author(s):  Paul HANSEN

Materials from this session:

Tax Issues Exclusive to Primary Producers

Author(s):  Paul HANSEN

Materials from this session:


Further details about this event:

 

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