Published on 08 Nov 12
by NATIONAL DIVISION, THE TAX INSTITUTE
By far, one of the greatest challenges facing SME businesses that operate through trust structures is avoiding the penal tax outcomes that are possible when operations are financed through profits that have been taxed at the corporate tax rate.
This paper examines some of the methods that have been developed to work with the new paradigm imposed by the Commissioner’s UPE ruling, including:
- developing practices with corporate beneficiaries
- lessons learned from completion of 2011 accounts
- implications from the February 2012 Montgomery Wools Case
- risks and opportunities through licensing goodwill.
Chris is a tax consulting director of GMK Centric (formerly Gaddie Metz Kahn), the accounting and
tax services division of Centric Wealth, and has nearly 20 years’ experience in the chartered
accounting profession. Over that time, he has advised many large corporates and international businesses, as well as privately owned groups, in relation to matters ranging from restructures, mergers and acquisitions to financing and profit distribution strategies. A fellow of the Taxation Institute and regular presenter at its continuing professional development seminars, Chris is a chartered accountant and holds the degrees of Bachelor of Business (majoring in accounting and economics) and Master of Taxation.
Current at 10 August 2007
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