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Utilising super in your family business structure paper

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:
    • directly
    • 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.

Author profile:

Neal Dallas CTA
Neal is a Principal in McInnes Wilson Lawyers’ Superannuation and Revenue Group. He has extensive experience advising clients in the areas of superannuation, tax, estate planning and asset protection. He has advised corporate, industry and self-managed funds and their employers across a range of superannuation-related matters, including fund establishment, fund mergers and transfers, benefit payment issues, superannuation borrowing arrangements, taxation of contributions and earnings, fund wind-ups and trustee training. Current at 18 August 2016 Click here to expand/collapse more articles by Neal DALLAS.
 

This was presented at SME Structures - Avoiding a Train Wreck.

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Part IVA and restructures

Author(s):  David MARSCHKE

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