CGT planning for business sale (gone wrong)

Dabner, Justin (2014) CGT planning for business sale (gone wrong). CCH Tax Week, 2014 (46). pp. 1-4.

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Abstract

A change in the ownership of a business provides an opportunity for tax professionals to demonstrate tehir tax advisory skills, such as in the considered allocation of the mpurchase moneys to achieve the best tax outcome for both the vendor and the purchaser. The small business GCT concessions provide a particular opportunity for vendor clients to reduce their tax exposure. But the emphasis is on small busniesses, either samll business entitied (SBEs) or businesses below the maximum net asset value threshold of $6m (previously $5m). But how does a taxpayer satisfy this threshold wehre the purchaser is paying $14m for the shares in its company? such a quandary faced the taxpayers in Scanlon v FC of T 2014 ATC ¶10-378.

Item ID: 37820
Item Type: Article (Commentary)
Keywords: CGT; small business entities; SBEs; concessions; tax; employment termination payments; ETPs
ISSN: 1320-9426
Date Deposited: 29 Oct 2015 02:25
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 100%
SEO Codes: 94 LAW, POLITICS AND COMMUNITY SERVICES > 9404 Justice and the Law > 940499 Justice and the Law not elsewhere classified @ 100%
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