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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
- 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
- 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
- partnership interests
- SA stamp duty.

Materials from this session: