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Inter-Generational Transfers In The Rural Sector: A Review Of Some Problems

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  • Longworth, John W.

Abstract

Three kinds of inter-generational transfer are discussed. Despite the obvious advantages of partnerships and other forms of income splitting from the income tax viewpoint, about half of the primary producers in Australia continue to operate their businesses as sole traders. Some of the problems which arise with partnerships, trusts and companies in this regard are considered. The transfer of the ownership of the assets in addition to the ownership of the income stream they generate, is then considered in detail. The taxation of this transfer by means of gift and death duties raises many questions in relation to economic equity and efficiency. The third type of inter-generational transfer discussed in this paper is the transfer of the managerial role. Several suggestions are made which could help not only to reduce the family trauma which usually surrounds this issue, but which also could help reduce the tendency for farmers to hold the reins for too long.

Suggested Citation

  • Longworth, John W., 1972. "Inter-Generational Transfers In The Rural Sector: A Review Of Some Problems," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 16(3), pages 1-14, December.
    • Handle: RePEc:ags:ajaeau:23024
    DOI: 10.22004/ag.econ.23024
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    File URL: https://ageconsearch.umn.edu/record/23024/files/16030169.pdf
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    References listed on IDEAS

    as
    1. Groenewegen, P D, 1971. "Rationalizing the Australian Taxation System," The Economic Record, The Economic Society of Australia, vol. 47(120), pages 531-552, December.
    2. A. H. Boxer, 1965. "Taxation In Australia," The Economic Record, The Economic Society of Australia, vol. 41(96), pages 639-649, December.
    3. Norm J. Thomson, 1971. "The Incidence And Effects Of Death Duties On Wool‐Growing Properties In South Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 15(3), pages 130-145, December.
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    Cited by:

    1. Américo Mendes, 2005. "Intergenerational transfers in rural households: A game theoretical approach," Labor and Demography 0503004, University Library of Munich, Germany.

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    Keywords

    Consumer/Household Economics;

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