Primary Producer Grant Offer – Succession Planning

Succession planning concept on blackboard with pen

Great news for primary producers – A new QRAA Farm Management Grant is available covering 50% of professional fees relating to family succession plans. Now is the perfect time to meet with Wright Clarke Solicitors to prepare or review and update your family’s succession planning. We work with you to prepare practical, cost effective, down to earth family succession plans in consultation with financial advisors.

Your individualised succession plan will outline what will happen and who will take over your farm when you leave either by choice or circumstance. Your farm represents a lifetime of hard work we want to ensure:

  • You avoid disputes when transferring ownership to the next generation
  • You make the most of recent tax legislation and stamp duty rules offering greater flexibility and affordability for primary producers looking to sell or gift their farm to family members.

Everyone’s circumstances are different, we take the time to understand and care for you and your situation with a clear succession planning process.

The QRAA Farm Management Grant is an excellent prompt for all primary producers to address their business’ succession plan. Here are all the details about accessing the Farm Management Grant and getting your succession planning underway:

Here is all the information you will need on the details of the Farm Management Grant:

  • Queensland Rural Adjustment Authority’s Farm Management Grant is available from 23 March 2017 until 30 June 2019 to Primary Producers and their families.
  • The Grant can only be used to fund professional fees incurred in relation to succession planning for primary producer’s and their relatives.
  • The Farm Management Grant covers 50% of professional fees relating to family succession plans (capped to a maximum contribution of $2500 per financial year.)
  • Applications for rebates must be received within the financial year the services are provided and may include an ‘approval in principle’ application made a maximum of three months before professional advice is received.
  • More than one application can be lodged in a financial year so long as the maximum assistance of $2,500 has not been reached.