Farm discretionary trust
Farm discretionary trusts are used to acquire land for primary production while also providing flexibility so the property can eventually be transferred to other family members. There is a stamp duty exemption available for the transfer of farming land:
- From one or more individuals who are members of the family or a company whose shareholders are comprised of those persons, to a discretionary farm trust.
- From a discretionary farm, trust to one or more individuals who are members of the family.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2