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Liquidate but only after you contemplate - getting money out of private companies paper

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Published on 18 Mar 05 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper covers winding up a private company from income tax, GST and stamp duty viewpoints, including:

  • why liquidate? - comparison with capital return mechanisms
  • dividend v capital proceeds - where do I start?
  • managing available franking credits
  • CGT events C2 and G1
  • liquidating consolidated entities - where should you start?
  • timing issues - some curious results emerge
  • interaction with CGT discount and small business concessions
  • stamp duty exemptions and GST issues on liquidations
  • implications of various liquidation strategies.

Author profile

Andrew Sinclair CTA
Andrew Sinclair, CTA is a partner in Cowell Clarke's Tax & Revenue practice group. As a tax and superannuation specialist with over 25 years experience, his qualifications are in law and as a Chartered Accountant. With a broad knowledge of corporate and business law, Andrew has specialist expertise in private client scenarios. This usually involves discretionary trusts, private companies and the diversity of views that family dynamics deliver. - Current at 22 January 2018
Click here to expand/collapse more articles by Andrew SINCLAIR.

 

This was presented at 20th National Convention: Tax Unmasked .

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