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Getting value out of companies - Part 1 paper


This paper deals with a number of tax efficient strategies adapted to extract money from companies. The paper covers principles in each case, the practicalities, what the ATO has had to say to date and the likely areas of focus by the ATO, both today and in the future. Topics covered include:

  • getting money out of cash box companies, dividends, super, termination payments, bonuses, retainers, consulting fees, liquidation
  • accessing the cash before it goes into a corporate beneficiary - via an interposed trust;
  • loans by companies to and out of limited partnerships;
  • acquiring wasting assets in companies with retained earnings;
  • treatment of franked dividends to non-residents (via discretionary trusts);
  • dividends to companies with negative net assets (via discretionary trusts);
  • dividends to negatively geared shareholders;
  • passing shares to the trustee of a testamentary trust;
  • converting 7-year loans to 25-year Div 7A complying loans; and
  • franked dividend to shareholder who makes super contributions.

Author profile

Paul Hockridge CTA
Photo of author, Paul HOCKRIDGE Paul of Mutual Trust, has over 30 years experience in advising high-wealth families, closely held businesses and accounting and legal firms on tax, asset protection and estate and succession planning. He has particular expertise in litigation support and property development. Paul started his career with the ATO and has worked in major legal and accounting firms. Prior to joining Mutual Trust, he was a Tax Partner at Deloitte Private for several years. For a number of years, Paul has been a regular author and speaker on taxation matters, particularly in relation to tax aspects of business and investment structuring, estate and succession planning and salary packaging. - Current at 26 September 2017
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This was presented at 17th National Tax Intensive Retreat: Extracting Value .

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Individual sessions

Recent developments relating to discretionary trusts - getting money out of trusts against the wishes of the trustee & appointor

Author(s):  Lisa HESPE

Materials from this session:

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