Farm sale planning is one of the most involved issues we confront when providing financial advice to the farming community.
Whether planning to sell in 5 years, or 50, the key to successfully selling your biggest asset, is planning.
From managing Capital Gains Tax to Farm Management Deposits, to a plan for your life post-farming, it’s essential you think ahead and prepare for this life-changing event.
To assist you begin this planning process, we have put together a group of informative Selling the Farm videos, each focusing on an important item you need to be aware of before your begin your sale process.
The way you choose to sell your property will be a vital choice. It will be impossible to know which method will be best for you and your property. Factors such as supply and demand for your area, the financial strength of farmers close by, and their risk tolerance for expanding and taking on debt.
Given that there are so many factors to consider, it is best to take the advice of your real estate agent, as they are best placed to answer this question.
Investing is complex. Building a sound understanding and getting advice can help give you the knowledge you need to make informed decisions. Your investment time frame is key to guide us how we should invest.
Under current Centrelink rules, there are limits on the amount of assets and income you can have to be eligible to receive the Age Pension. Both asset and income tests have upper and lower thresholds that dictate a pensioner’s pension payment. In most cases, when farmers are selling their farms, the value of the property is far exceeding these thresholds. But, it is worth understanding the numbers to check if you may be eligible.