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Fox and Thomas recently hosted around 30 local real estate agents, bankers and accountants for a seminar on the new water allocation system.

Fox and Thomas St George Director Michael Cowley provided the briefing which outlined the practical implications of the new allocation system for those that regularly deal with water entitlement issues.

Michael Cowley said, “Of particular significance is the ability to trade water allocations with or without also holding property.”

“The opportunity now exists for irrigation properties to increase or decrease their allocations more easily in line with their requirements.”

Property owners who don’t plan to irrigate in a particular season can easily lease or temporarily transfer their water.”

“Others may decide to simplify their operation by selling their allocation and remaining a dryland operation.”

“The new system treats water allocations in a similar way to property, with a register of the allocations being retained by the Land Titles Office.”

“With water no longer tied to the land many opportunities and risks arise in the areas of wills and succession planning and asset structuring and protection.

“In particular a gift of land will no longer automatically include a gift of a water entitlement being used on the land.

“While the ability to trade water is a great step forward the system is still complex and owners and prospective purchasers should contact their solicitor or the Department before dealing with an allocation to ensure they do not jeopardise their entitlement.”

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Fox and Thomas has an unrivalled reputation for providing legal services to agribusiness. With a history of staying the distance in regional Queensland and New South Wales, no other firm has the depth of expertise, developed over many years, to service the industry as well as Fox and Thomas. With offices in Goondiwindi, St George and Brisbane, we have staked our reputation on helping your agribusiness to flourish. When you choose Fox and Thomas, you get the attention of key people, with access to the firm’s directors and senior people from the beginning. It’s a complex legal landscape in agricultural business, and Fox and Thomas knows it like no other.

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