Dealing with government, Treasury and the ATO - a three ringed circus?
Author(s): Dr Michael DIRKIS
Michael Dirkis, Senior Tax Counsel for the Tax Institute focusses on the practical impact of a number of key issues currently being progressed by the Tax Institute with Government, Treasury and the ATO.
This paper covers the intricacies of distributing or liberating wealth from continuing companies including:
the advantages of schemes of arrangement in complex client structures
what to do to deal with value shifting traps
dealing effectively with possible debt forgiveness implications
structuring and optimising capital reductions / buybacks - avoiding assessable dividends
capital benefits and dividend streaming implications.
This paper was also presented by Michael Hennessey at the 'Roadmap to Business Structures' seminar held in Brisbane on 19 November 2004. Michael also presented a large proportion of the paper at the 'My Client the Retiree/Investor' seminar held in Maroochydore on 8 April 2005 and at the '2005 North Queensland Convention' held in Townsville on 19 and 20 May 2005.