Farm Succession and Inheritance: Comparing Australian and International Trends

Abstract

This project involved the replication of the International Farm Transfers Study Survey in Australia. The International Farm Transfers Study compares trends in farm succession and retirement across continents. While previous studies of the succession process have tended to focus upon the transfer of physical assets, such as land and other fixed capital, this project examines the transfer of the intangible assets of farm businesses between generations on family farms, such as the transfer of managerial skills and specific farm knowledge... The purpose of this study was to provide a comparison of Australian trends in career progression, farm succession and retirement with those in other countries participating in the International Farm Transfers Study. Specifically, the project sought to examine and compare the transfer of intangible assets of the farm business, such as managerial skills and specific farm knowledge between generations on the family farm, between various cultures.