Miscellaneous 2017

Subdivision 328-G: The limitations become apparent

Source: Taxation In Australia Journal Article

Published Date: 1 Dec 2017


The Subdiv 328-G roll-over, originally considered a one stop shop for small business owners to restructure their businesses into appropriate entities, has started to show its cracks. A little more than a year on from its commencement, the limitations of the Subdiv 328-G roll-over have become starkly apparent due to the complexity of the legislation and the narrow interpretation adopted by the ATO on issues such as ultimate economic ownership. The drafting of the relevant provisions and the ATO's subsequent interpretation have meant many small businesses that philosophically should be able to access the roll-over relief have been left unable to qualify. This article explores the circumstances in which small businesses are unable to be restructured under Subdiv 328-G and highlights that the roll-over should be relied on with caution, as much will hinge on the application of technical requirements to the specific client circumstances and structure.

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Miscellaneous 2017

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