Published on 28 Feb 13
by QUEENSLAND DIVISION, THE TAX INSTITUTE
An SMSF can be an important part of a family business structure, helping not only to achieve a better tax outcome during the life of a business and on its disposal, but also to protect some key business assets. This paper demonstrates how an SMSF can be utilised to own business assets and the key issues to consider.
Topics covered include:
- what assets can be owned by the SMSF:
- business real property
- other assets
- how assets can be held by the SMSF:
- related and non-related trusts
- geared acquisitions – options where there is not sufficient cash in the SMSF
- implications on disposal of the business
- planned exits – retirement and intergenerational transfers
- unplanned exits – death and disablement.
Neal Dallas FTIA, is a Special Counsel in the Business & Revenue group of McCullough Robertson. He has extensive experience
in taxation, business structuring and estate planning. He advises trustees of various types of trust on taxation, structuring and succession issues. Neal advises on the establishment and
acquisition of business and investment entities and on business taxation issues. He also
advises the superannuation industry, including corporate, industry and self-managed
superannuation fund trustees. Apart from advising business entities, Neal also advises
many individuals on estate planning, succession planning, family trust arrangements, life
insurance issues and asset protection.
Current at 19 February 2009 Current at 14 January 2013
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