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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 Revenu e 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 21 January 2021
This was presented at SME Structures - Avoiding a Train Wreck .
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Structures introduction
Author(s): Dominic MoonMaterials from this session:
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Asset protection/Family law issues
Author(s): Justine WOODSMaterials from this session:
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Train wreck case study
Author(s): Adele TownsendMaterials from this session:
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Utilising super in your family business structure
Author(s): Neal DALLASMaterials from this session:
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Corporate restructuring for your SME business
Author(s): Dean STEERMaterials from this session:
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Part IVA and restructures
Author(s): David MARSCHKEMaterials from this session:
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