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Winding up Entitities - Getting the Money Out

Published on 03 Nov 2004 | Took place at Stamford Grand Adelaide, Glenelg , SA

This seminar brought together the business, tax and legal issues related to winding up various business structures with the emphasis on tax. The program covered winding up:
- companies
- trusts
- partnerships.

Each of the sessions covered:
- capital gains tax
- small business concessions
- stamp duty
- GST
- other aspects particular to the entity.

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

Individual sessions

Winding up companies

Author(s):  Andrew SINCLAIR These case studies focus on how to get cash or other property out of solvent entities, looking at the different ramifications depending on differing shareholders in a company. Sale of business issues are very much part of this topic. Issues include:
- implications to company - deemed dividend s.47A, capital amount and Archer Bros. principle
- implications for shareholder - capital proceeds, s.47A and avoiding double tax
- timing of CGT v dividend
- accessing small business CGT concessions
- SA stamp duty
- GST.

Materials from this session:

Winding up trusts

Author(s):  Arlene MACDONALD Issues covered in this paper include:
- ending a discretionary trust
- the mechanics of ending a discretionary trust
- how to decide which beneficiary gets what final distributions?
- accessing the small business tax concessions
- in specie distribution of assets vs cash
- forgiveness of debts
- getting the franking credits out to someone who can use them
- using the trust losses
- family trusts or interposed trusts
- accidental ending (eg. unintended resettlements)
- anti-avoidance issues: Part IVA/income injection test
- GST
- SA stamp duty
- what's different for fixed trusts (including unit trusts), hybrid trusts, bare trusts and testamentary trusts which include life interests?

Materials from this session:

Winding up partnerships

Author(s):  Christopher KNOTT Issues covered in this paper include:
- partnerships at law and at tax
- death/reconstruction
- CGT events
- roll overs CGT
- accessing the small business concessions
- trading stock/depreciation
- WIP
- partnership interests
- GST
- SA stamp duty.

Materials from this session: