Getting the taxation issues right when selling the farm can make a significant difference to your net selling price. With capital gains tax being triggered at the time of signing a contract it is important to consider these matters well in advance ofthe sale. Many people may have heard of the small business capital gains tax concessions. As the name indicates these concessions are targeted at owners of small businesses, which also includes many farming operations. These concessions apply if you areselling an active farm, as opposed to a lifestyle or non-producing farm.
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