Agricultural & Rural
Many pitfalls and complications can arise in dealing with farms or rural properties. Our lawyers have the expertise and industry knowledge to guide you through the many day to day and strategic issues which you will have to navigate as a farmer, business owner or landowner in the agricultural or rural sector. We will work closely with you to gain a full understanding of your business and the issues affecting the rural and farming sectors, to provide tailored legal advice specific to your needs. Our approach minimises the stress involved in dealing with a legal issue, allowing you to focus on the growth of your own business.
Farming and Agribusiness
We can advise you in relation to:
Buying and selling farms and farming properties, including sugarcane, cattle (beef and dairy), grains, cotton, small crops, etc.
Preparing Share Farming Arrangements
Preparing Partnership Agreements
Preparing Joint Venture Agreements
Preparing Shareholders Agreements
Leasing your farm or farming equipment
Business Structuring
Asset Protection
Sale and purchase of livestock, permits and machinery associated with the change of ownership of pastoral land
The Personal Property Securities Regime
Workplace health and safety issues, including advice on procedural issues pursuant to the Work Health and Safety Act
Employment law issues such as salary and wage negotiations, enterprise bargaining, employment contracts and working with contractors and subcontractors
Industrial Relations issues including termination issues and unfair dismissal claims
Disputes and court cases including liability claims such as WorkCover claims, disputes with contractors and debt collection
Environmental Law issues, for example licensing issues with the Environmental Protection Act
Succession planning and intergenerational farm transfers
Will/s & Estate Planning
Family Law Matters
Establishing a Self Managed Superannuation Fund
Rural land
We offer expert advice relating to:
Rural residential and non-residential subdivisions
Land titling issues, both freehold land and crown leasehold land
Applications to government departments to convert crown leasehold land into freehold land
Procedural issues under the Water Act and regulations, including transferring water licences/allocations, subdividing parts of water allocations and disputes regarding water licences/allocations with third parties and government agencies
Resumption disputes (such as those under the Acquisition of Land Act) by local governments and government owned corporations
Mining exploration permits and the implication of those permits pursuant to the Mineral Resources Act and related regulations
Our Agricultural & Rural Team
Mark focuses on commercial law including property development and town planning, leasing and conveyancing of commercial property, structuring and conveyancing of businesses and rural property transactions. Mark can also provide assistance in relation to building and construction disputes.
Tenacious and trustworthy, he is a highly respected commercial and property lawyer with an immense passion for, and wealth of knowledge of, the property market in Mackay, the Whitsundays, Coalfields and surrounds.
Naomi is passionate about Mackay and giving back to the community. Naomi currently sits on the board of the Resources Centre of Excellence, an organisation which provides world-class facilities for all things relating to resource development, with an underground mine simulated training and testing facility, emerging technology capabilities, quality training and conference facilities.
Erin Gibson is an Associate working in the McKays Conveyancing, Commercial & Business and Agricultural & Rural teams.Having grown up on a Sugar Cane farm in Mackay, Erin graduated from Griffith University in November 2017 with a Bachelor of Law / Bachelor of Criminology and Criminal Justice. Erin then went on to complete a Graduate Diploma in Legal Practice with the Queensland University of Technology before joining the team at McKays Solicitors.
Links
Transfer Duty and Possible Concessions
Transfer duty (previously called stamp duty) is a tax imposed on transactions of real property or chattels. The State Government charges transfer duty based on the sale price of the property.–The contract of sale typically passes on the requirement to pay the duty to the buyer. The question of how much duty is payable depends on the sale price with the percentage scale increasing with the sale price.
Depending on the nature of the transaction, certain concessions and exemptions may be available to you.
Click here to calculate transfer duty on your new farm or rural property.For those transferring a farm or part of a farm to another family member, you may be eligible to apply for a concession to reduce your duty to Nil. To find out more follow this link:
https://www.qld.gov.au/housing/buying-owning-home/family-business-concession
To download the form to apply for the primary production concession to transfer a family business click on https://publications.qld.gov.au/dataset/8dea3cf8-a11b-4e99-9c1c-6ae4375321c1/resource/94fa58e3-dcfb-427c-b327-e4ef707b5cd6/download/form-d2.5v91july2017.pdf
What if you have a Supplemented Water Allocation to transfer?
If you are looking at transferring a Supplemented Water Allocation to another person, you will need to download the necessary form from Sun Water and complete.If you are not an existing Sun Water customer, you will also have to complete a Customer Profile Details Form and also submit to Sun Water.If your transfer of the Water Allocation also involves other property, we recommend you contact one of our friendly team who can offer you further assistance to help you with the transaction so it is done correctly the first time.
Sunwater water allocation transfer information - http://www.sunwater.com.au/property-water-allocation-transfer-process/property-water-allocation-transfer-process
For Foreign Investors
If you are looking at buying a farm or rural property but aren’t an Australian Citizen or Permanent Resident, please click on the below link to find out if you are eligible to sign a contract now or whether you need to insert a special condition into the contract to make your contract subject to you obtaining approval from the Foreign Investments Board before locking yourself into the purchase. If you cannot find the information you are looking for on this link, please feel free to contact one of our friendly team who can assist you further.
Foreign Investors Board - http://firb.gov.au/
QRIDA Farm Management Grants
Some farmers may be eligible to apply for a grant from QRIDA (formerly called QRAA).If you would like more information on the grant, you can follow this link or alternatively, give one of our friendly team a call and we can explore this option with you.
http://www.qrida.qld.gov.au/__data/assets/pdf_file/0006/7908/Farm-Management-Grants-Guidelines-01072017.pdf
FAQs
What impact would divorce have on your farm or rural property? Would you be able to fund paying out your ex partner and still keep the family farm? One of McKays specialties is asset protection. This includes drafting and advising clients on Pre Nuptial and Cohabitation Agreements. Whether you wish to quarantine assets that you are bringing into a marriage or relationship, or simply wish to avoid the prospect of going to court by agreeing now on what your property division will be, we have extensive experience in drafting Pre Nuptial Agreements to meet your needs. Our Asset Protection and Family Law teams will work closely together to ensure that both your and your partner’s assets are suitably protected.
It is important to have both an Enduring Power of Attorney and a Will. A Will operates on your death but an Enduring Power of Attorney operates at any time during your life. There is a common misconception that a Power of Attorney is only required for decision making at end of life.
We will explain to you the different scenarios where you or your partner may require a Power of Attorney, for example, if you are overseas, are unexpectedly injured or become suddenly unwell and unable to make financial and health decisions for yourself or your children.
By signing a Power of Attorney you may grant someone (your attorney) the legal power for that person to sign or to take authorised action on your behalf.
It is crucial that farmers and rural landowners have an up to date Will. If someone dies without a Will, then their estate may be considered intestate which means legislation dictates how their estate is distributed, rather than them choosing themselves. Having a ‘simple Will’ is sometimes appropriate but more often than not a simple Will does not provide the best financial outcome for a person’s family and sometimes can cost them thousands, if not tens of thousands of dollars in tax, which would not otherwise be payable.
Scenario 1: Cane farmer John dies leaving behind his wife Mary and three infant children. Mary invests $300,000 inherited from John’s estate and receives $18,000 extra income each year. She already earns income from her job and ends up paying $8,370 tax on the extra income, leaving only $9,630 to spend on the family.
Scenario 2: Beef farmer Peter dies leaving behind his wife Sue and three infant children. Sue invests the $300,000 inherited from Peter’s estate and receives $18,000 extra income each year. She already earns income from her job but ends up paying no tax on the extra income leaving $18,000 to spend on the family. This is $8,370 more than Mary, not just in one year, but she will make this saving year after year.
Why is Sue $8,370 a year better off? The answer…a Will prepared with the benefit of specialist advice from a lawyer who knows and understands the details of good estate planning.
Our advice can help ensure that you have done everything you can to make sure your family benefits in the best possible way from your estate when you die. A properly considered and written Will is one of the most important things you can do for your family. Our friendly Estate Planning team can talk to you about succession planning, specific to the agribusiness industry.
We are local lawyers
With long standing links to the rural and farming communities and we understand the pressures that you are faced with. Contact us today for more information on how we can help you.
