Published on 22 Oct 05
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This presentation considers the issues that arise when partners in a primary production business want to bring in new partners or pass the business to the next generation. The presentation covers:
- reconstitution of the partnership and continuing ownership issues
- restructuring using new entities for asset ownership
- livestock and capital allowance rollovers
- Division 152 issues for partners leaving the business
- accounting vs tax treatment of partner exits/entries
- stamp duty exemptions including use of tightly held family trusts.
Peter is a Partner at Cowell Clarke and heads up the firm's Tax & Revenue Group. He provides specialist tax advice to public accountants and a wide range of corporate and medium to large family businesses as well as high net worth taxpayers. Peter has had a significant involvement with trust structures throughout his career and is the author on topical tax issues in CCH Tax Week and Taxation in Australia. Peter has a Master's degree in Taxation Law and is a member of The Tax Institute's State Council.
- Current at
19 June 2012