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Buy/sell agreements, funding and insurance - tax, practical and commercial aspects paper

Published on 31 Oct 13 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

Where more than one party is involved in a business, providing upfront agreed mechanism for separation is something that can ensure that drawn out separation squabbles are avoided. It is essentially the equivalent of the pre-nuptial in a business settings and needs to be carefully considered including bearing in mind the likely issues and consequences.

This paper covers:

  • why we have buy/sell agreements
  • funding options, including insurance
  • tax considerations on insurance – who owns the policy, who pays the premium
  • limitations to insurance and wider considerations
  • options and consequences when buy/sell triggered – income tax (including CGT), stamp duty, other fiscal implications
  • generally no perfect answer – some practical case studies.

Author profile:

Scott MCGILL
Current at 21 March 2012 Click here to expand/collapse more articles by Scott MCGILL.
 

 

This was presented at NSW 10th Annual Estate and Business Succession Planning .

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Author(s):  Richard NEAL

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