Real question is. If the farm is a business. Then why are farmers refusing to place the land in the LTD.
Answer because this is already taxed in a different way to non property owning businesses.
So yep farm owners are all makeing a choice. They are trying to save tax on a operational basis. And now that choice means they choose to lose the value when they die. As a LTD would be an independent entity and passed without personal taxation. Much like a trust dose.
Real question is. If the farm is a business. Then why are farmers refusing to place the land in the LTD.
Answer because this is already taxed in a different way to non property owning businesses.
So yep farm owners are all makeing a choice. They are trying to save tax on a operational basis. And now that choice means they choose to lose the value when they die. As a LTD would be an independent entity and passed without personal taxation. Much like a trust dose.