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Is the small business restructure (roll) over before it really began?

Publication date: 06 Sep 16 | Source: WEEKLY TAX BULLETIN

Issue: Issue 31, 22 Jul 2016

Pages: pp 2-4


The small business restructure rollover ("SBRR") was announced in the 2015-16 Federal Budget as a means of reducing red-tape and providing greater flexibility for small businesses seeking to restructure their business by allowing them to disregard tax gains or losses that would otherwise be realised where business assets are transferred from one entity to another. 

The SBRR legislation, together with recent ATO guidance (in the form of Law Companion Guides LCG 2016/2 and LCG 2016/3), seemingly reflects a rigidity to the provisions and small businesses seeking to restructure should tread carefully when considering whether to apply the new SBRR provisions.

This article highlights a number of examples which demonstrate the very technical nature of the provisions and cases where a restructure may not be acceptable under the provisions.

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Author profiles

Alexis Kokkinos ATI
Photo of author, Alexis KOKKINOS Alexis is a Partner of the Tax Consulting group of Pitcher Partners and has over 19 years experience in advising corporate clients. Alexis was a member of the Board of Taxation review on the tax consolidation measures and was also a member of the Treasury review of MEC groups. - Current at 09 July 2015
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Glendon COOTE
Click here to expand/collapse more articles by Edward HENNEBRY.