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Published on 11 Oct 12
by VICTORIAN DIVISION, THE TAX INSTITUTE
To ensure a professional practice thrives and successfully continues into the future, succession planning is critical. This paper looks at recent developments and income tax issues associated with:
admissions – without new equity admissions, the practice dies
exits – issues surrounding an equity holder’s exit/retirement
selling the business – what are the income tax issues involved in selling equity/business?
key issues in merging two practices.
These are looked at in terms of the common structures for both “goodwill” and “no-goodwill” practices.
Mark Northeast FTIA is a partner in the Tax Consulting division of Pitcher Partners. He has over 20 years experience dealing with tax legislation primarily advising to privately owned business and the SME market. Current at 26 February 2009Current at 20 April 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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