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#27: Death Taxes - Is The Tax Man Coming For Your Farm?
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We’ve all frequently heard naive politicians suggesting we “tax the rich” – which on the surface seems kind of ok, doesn’t it? But what I want any business owners - which includes farmers and graziers - to understand is that you are the “rich” they’re talking about. That’s because you own land and there is money in land, easy taxing money!
Today Tim Rivett and I will be discussing death taxes which I am hearing more and more politicians talking about in the media.
For anyone that was in farming back in the 60-70’s this should send a chill up your spine. You will probably remember something called inheritance tax which forced many a farming family into selling up and losing the farm when Mum or Dad died, as they couldn’t afford the death taxes.
We are all going to die at some stage and whether it is our parents leaving assets to us, or us leaving assets to our kids, the legislation of death or inheritance taxes will impact your family, so this is a podcast you won’t want to miss.
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Ben spent over 20 years working with successful business owners and farming families which allowed him to unearth the timeless principles on how to successfully grow, protect and maintain wealth.
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Disclaimer: The information contained in this podcast is general in nature and for education purposes only. It is not financial advice. It is not legal advice. No one should act on the information without appropriate specific advice for your particular circumstances. Ben Law is a former financial advisor but is no longer licensed and cannot and will not give you specific or personal advice in this podcast. The Financial Bloke Group Pty Ltd accepts no responsibility for any loss or damage occasioned by any person acting or refraining from action as a result of reliance on the information in this podcast.
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