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Selling out – Tax issues for the baby boomer making a sea change/tree change paper

Published on 15 Mar 08 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

The success of the baby boomer generation comes with some tax headaches - with many wanting to move towards a more relaxed lifestyle it will be important that advisers are aware of the myriad of tax issues that will need to be addressed to ensure that the sea change is a happy one and not too taxed. Case studies in this paper examine:

  • ways of selling out of the business:
    • using small business CGT concessions for best advantage
    • sell the business or the shares?
    • which concession works best for you?
    • liquidating the family company
    • dealing with businesses owned by trusts
  • intergenerational change - should I set up a testamentary trust in my will?
  • superannuation - tax free money for life?

Author profile:

Brenton ELLERY
Brenton is Chairman of Edwards Marshall, Chartered Accountants. He is a former SA State Chairman and National Councillor of the Taxation Institute of Australia. He has presented many papers for the Taxation Institute of Australia and the accounting bodies.
Current at 12 March 2008
Click here to expand/collapse more articles by Brenton ELLERY.
 

This was presented at 23rd National Convention .

Get a 20% discount when you buy all the items from this event.

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