Does the Exemption Apply to me?
The family farm exemption is one of several exemptions under the Duties Act 2008 (WA). The exemption applies to farm land that is transferred between family members that use the land solely or dominantly for the purpose of primary production. If applicable, the exemption can save farming families from having to pay substantial amounts of duty.
However, the exemption does have limitations. In particular, the Act requires the “transferor” to be an individual or a bare trustee who is acting on behalf of an individual. This means that if the farm is held in the name of a company, and the directors wish to transfer the farm to their children, the transaction will not be exempt from duty.
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