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Profit accumulation tax traps presentation


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 presentation 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:

Author Photo - Chris WOOKEY
Chris is a tax consulting director of GMK Centric (formerly Gaddie Metz Kahn), the accounting and tax services division of Centric Wealth, and has nearly 20 years’ experience in the chartered accounting profession. Over that time, he has advised many large corporates and international businesses, as well as privately owned groups, in relation to matters ranging from restructures, mergers and acquisitions to financing and profit distribution strategies. A fellow of the Taxation Institute and regular presenter at its continuing professional development seminars, Chris is a chartered accountant and holds the degrees of Bachelor of Business (majoring in accounting and economics) and Master of Taxation.
Current at 10 August 2007
Click here to expand/collapse more articles by Chris WOOKEY.


This was presented at 20th National Tax Intensive Retreat: Expanding the Family Business .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Workshop 1 questions and answers

Author(s):  Jo-anne HOTSTON

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Workshop 2 questions and answers

Author(s):  David MARSCHKE

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Workshop 3 questions and answers

Author(s):  Michelle HARTMAN,  Kevin J MUNRO

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Intellectual property, goodwill and taxation

Author(s):  Domenic CARBONE

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