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Voluntary liquidation: Getting the money & assets out of a company presentation


Distributing money and assets out of a company by way of voluntary liquidation can often be a highly tax-effective method for returning value to shareholders provided care is taken to comply with the various statutory and judicial requirements. This presentation covers:

  • the reasons for liquidating and how it compares with other capital management approaches such as share buy-backs and capital reduction/share cancellation
  • the basic framework and the operation of section 47;
  • the ‘Archer Brothers principle' and the required accounting records;
  • specific issues associated with distribution of assets in specie;
  • the interaction with the franking rules, and managing the challenges associated with the benchmark franking rule and the timing of when franking credits arise;
  • specific issues for pre and post CGT shareholders including the impact of CGT event K6;
  • the interaction with the CGT discount and the small business CGT concessions;
  • specific issues arising for consolidated groups; and
  • stamp duty and GST issues.

Author profile

Michael Butler CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. - Current at 12 April 2017
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This was presented at 17th National Tax Intensive Retreat: Extracting Value .

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Individual sessions

Recent developments relating to discretionary trusts - getting money out of trusts against the wishes of the trustee & appointor

Author(s):  Lisa HESPE

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