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Published on 31 Oct 13
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
Where more than one party is involved in a business, providing upfront agreed mechanism for separation is something that can ensure that drawn out separation squabbles are avoided. It is essentially the equivalent of the pre-nuptial in a business settings and needs to be carefully considered including bearing in mind the likely issues and consequences.
This presentation covers:
why we have buy/sell agreements
funding options, including insurance
tax considerations on insurance – who owns the policy, who pays the premium
limitations to insurance and wider considerations
options and consequences when buy/sell triggered – income tax (including CGT), stamp duty, other fiscal implications
generally no perfect answer – some practical case studies.
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