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Profit accumulation tax traps paper
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.
Author profile
Christopher Wookey CTA

This was presented at 20th National Tax Intensive Retreat: Expanding the Family Business .
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Structuring and restructuring the expanding business
Author(s): Gil LEVYMaterials from this session:
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Issues regarding SMEs and group structures
Author(s): Paul LYONMaterials from this session:
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Profit accumulation tax traps
Author(s): Chris WOOKEYMaterials from this session:
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You can't take it with you
Author(s): Suzanne McKENZIEMaterials from this session:
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Workshop 1 questions and answers
Author(s): Jo-anne HOTSTONMaterials from this session:
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Rewarding and retaining key personnel of the growing businesss
Author(s): Meagan O'CONNOR, Rob JERAMIAHMaterials from this session:
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Author(s): David MARSCHKEMaterials from this session:
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Workshop 3 questions and answers
Author(s): Michelle HARTMAN, Kevin J MUNROMaterials from this session:
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Intellectual property, goodwill and taxation
Author(s): Domenic CARBONEMaterials from this session:
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