Source: Taxation In Australia Journal Article
Published Date: 1 Dec 2015
Any business enterprise may, at some stage of its life, find it necessary or desirable to restructure, for any of a variety of practical, business and even personal reasons. The revenue consequences of restructuring a business would often be prohibitive, but for various concessions provided under the tax and stamp duty laws. This article sets out and discusses the main revenue concessions available in relation to the restructuring of businesses operated via companies. In particular, the article considers individual to company roll-overs, partnership to company roll-overs, company to company roll-overs, scrip-for-scrip exchanges, the tax consolidations regime, and other transaction costs. In each case, the article discusses the relevant legal requirements, and offers insights into potential traps. In conclusion, the author believes that if a methodical approach is adopted, it will generally be possible to achieve all of the client's commercial objectives without triggering adverse revenue consequences.
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