Farm succession planning is the orderly transfer of ownership and control of the farm. It is complex and will vary greatly from family to family. However with effective planning, the process can be relatively smooth and most disagreements avoided. Succession planning is one of the biggest challenges facing farmers, particularly with an ageing farming population.
The Queensland Government is offering grants for succession planning for primary producers. They will pay for 50% of an accountant’s or solicitor’s fees. You can receive up to $2,500 per applicant per year. This makes it more affordable for farmers as you only pay 50% of the fee.
To be eligible for the grant you must be a primary producer. This includes agricultural, grazing, forestry, horticultural & fishing activities.
The grant is available until 30 June 2019, however the Queensland Government is only providing up to $1 million per year for these grants, so we recommend you act now.
Call Radke & Co on 4951 1809 to find out how we can help you with succession planning.