Hi

We are in the midst of planting our 5 acre block with Pomegranate trees. We will be 3 years from creating an income but if all goes well we will look to purchase/lease more acreage within 5 years to grow the business to create a significant income. My question is has anyone had experience with starting the business from a privately owned property - essentially a home based business. Obviously we will need professional advice but just wondering on opinions of partnership/sole trader/trust/company etc. So far our costs/outlay are minimal and I believe as a primary producer we can't claim any tax losses against our other income until it earns $20k anyway. Have researched  but difficult to work out the pro's and con's of each. Eventually would be nice to quit our other jobs and sole income from farm, also have 3 boys that could be involved in a family trust to spread income also. Any thoughts?

Cheers

Chris