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The Endgame - Extracting Value - The Tax Issues presentation

Published on 25 Nov 07 by THE TAX INSTITUTE

The variety of corporate capital management strategies available to the expanding business continues to grow and the means by which enterprise value can be released have become increasingly sophisticated (as evidenced by the burgeoning number of ATOIDs on the subject). The High Court's decision in McNeil focused on one such approach only. This presentation is about the taxation issues which arise when shareholder value is released; whether that be by a trade sale, listing or a continuing participation and includes a consideration of:

Share sales (allocation of the purchase price and valuaton issues)
Restraint of trade and exit payment
Dividends, capital reductions and buy-backs
Whare is learnt from Lend Lease?
Earn outs and CGT issues
Future take out - options issued at a discount
What is learnt from McNeil through examining various forms of "equity" returns (eg rights, options)?

Author profile:

Author Photo - Peter McKnoulty CTA
Peter McKnoulty CTA
Peter is a Consultant at McCullough Robertson, having been a partner with the firm from July 1986 to December 2011. His practice focuses on tax and commercial law with an emphasis on estate planning, taxation, tax planning, business structuring, business succession and family business intergenerational transfer. He is also the Founder of Transition Planning Australia, which helps business owners, professionals and others to create a framework for the transition from business or full-time work to the next phase of their lives. TPA's belief is that everyone is entitled to a meaningful life after full-time work. Peter has degrees in Commerce and Law (with Honours) from the University of Queensland. Current at 07 September 2016 Click here to expand/collapse more articles by Peter J MCKNOULTY.

This was presented at 15th National Tax Intensive Retreat: Growing Pains - Expanding Family Businesses.

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