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Winding up your business - Opportunities and pitfalls presentation

Published on 17 Oct 13 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This presentation looks at a range of issues that should to be considered when a decision has been made to sell or wind up a business. Most people think about capital gains tax implications however the matter can be far broader than simply minimising the impact of CGT.

This presentation explores the following key considerations:

  • whether the business assets or the entity should be sold
  • the MNAV test including valuation issues, liabilities and application of recent cases, what’s in and out and planning opportunities
  • what happens after the business is sold - use of retirement concession, liquidating the company/vesting the trust
  • what to do with loans and/or UPEs that exist
  • dealing with pre-CGT assets and reserves
  • Part IVA implications of certain planning decisions or structuring to get within the concessions (such as making trust distributions)
  • accounting implications (e.g. reserves for SB gains).

Author profile:

Marc ROMALDI

Click here to expand/collapse more articles by Marc ROMALDI.
 

This was presented at 2013 South Australian Tax Intensive .

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

Individual sessions

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Author(s):  Sue Hatcher,  Layton GOULD

Materials from this session:


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