Published on 24 May 07
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
Often the most overlooked area of running a business - what happens when one co-owner dies or wants to leave the business? What are the key things you need to do to provide for succession planning with arm’s length business partners or with intergenerational family transfers, including:
- tax issues for trading stock, depreciable assets, CGT assets
- buy-out by co-owners
- income tax issues for off market buy backs of shares
- intergenerational transfers
- use of insurance policies, buy sell agreements and use of put and call options, timing of CGT event under contract, conditions precedent to formation.
Current at 16 May 2011
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