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Getting wealth out of companies paper

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Published on 03 May 07 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Extracting funds from a controlled company requires strategies that navigate around a trio of pitfalls - tax on the company, further tax on the shareholder and a penalty debit to the franking account. This paper looks at a few of the possibilities for a harmonious outcome, and some of the dissonant dangers that lurk in this territory:

  • accessing retained earnings
  • dividends and dividend access shares
  • stripping and streaming rules
  • capital reductions
  • loans out
  • liquidation of companies
  • redundancy payments and other benefits
  • avoiding the wash-out of concessions.

Author profile

Prof Graeme Cooper FTI
Graeme is Professor of Taxation Law at The University of Sydney and a consultant to Greenwoods & Herbert Smith Freehills. He is a former Chair of the New South Wales State Council of The Tax Institute and former member of the National Council. He has worked as a consultant to the ATO, Treasury, Board of Taxation, United Nations, OECD, World Bank, the International Monetary Fund and several foreign governments. He was admitted to legal practice in New South Wales and Victoria, and practised commercial law and tax in Sydney before entering teaching. He has taught in law schools in Australia, Europe and the United States, and holds degrees from the University of Sydney, University of Illinois and Columbia University, New York. - Current at 26 June 2019
Click here to expand/collapse more articles by Graeme S COOPER.

 

This was presented at South Australian Convention: In Tune with Tax .

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