Miscellaneous 2016

Tricks, traps and tantalising opportunities: New Subdiv 328-G explained

Source: Taxation In Australia Journal Article

Published Date: 1 Jun 2016


Following the federal government's jobs and small business package introduced during the 2015-16 federal Budget, Subdiv 328-G was crafted to provide greater flexibility for small business owners to change their legal structure. Compared with the traditional roll-over relief, the scope and restructuring possibilities provided for by the provisions represent a significant liberalisation of historical rules and is set to make them a one-stop shop for small business restructures. The new roll-overs cover a range of potential transferor-transferee combinations, making them the likely starting point for most small businesses wanting to access tax-effective restructuring.

This article explores a number of specific restructuring opportunities " for example, trust cloning, trust splitting, transferring non-CGT assets and exiting trusts with heritage issues " that are available under the new rules. This article also explores the fundamental issues in relation to how to satisfy the provisions in any factual scenario.

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Miscellaneous 2016

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