Ready for Blast-off: Managing the Tax Risks in Business Restructures and Sales – recorded lunchtime online conference

Hear from the experts at this online lunchtime conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson and presentations.

One registration can be shared by colleagues within the same firm utilising the same login.

THE PROGRAM

Session 1: Structuring for the Ultimate Business Exit

As a cohort of business owners hit their late 50s and 60s, taxpayers and tax advisers are turning their minds to business exit, whether that be through a third-party sale or passing down to the next generation. Planning ahead can make a significant difference in achieving the best tax outcome. This session explores the options, including:

• Restructuring for sale - what needs to be considered?
  • Stamp duty - is corporate reconstruction exemption available?
  • GST - what supplies are being made
  • Income tax - are there rollovers available?
• Streamlining the business and managing staff:
  • Deciding whether to issue shares to employees - getting the balance right between the employee and business
  • Issuing equity and golden handshakes for key staff - what is the tax effect? Are there corporations law issues to consider?
• Separating wealth and investment assets from business assets:
  • What structure should investments be transferred into?
  • Dealing with liquidity issues where business real property is held in the SMSF

Session 2: Essential Tax Issues in a Sale of Business

The sale of a business inevitably triggers a large number of tax issues, with the transfer of revenue assets such as trading stock and depreciable assets, CGT assets such as goodwill and even the transfer of non-assets. This session provides a run-down of the key income tax issues taxpayers need to keep in mind, including:

• Understanding CGT versus revenue assets and non-assets
  • Identify goodwill, know-how and intellectual property such as copyright
  • Alternative structuring - can you licence or lease the asset instead?
• Valuing assets and appropriate allocation to the right buckets
  • Understanding Commissioner of State Revenue v Placer Dome Inc [2018] HCA 59 and its implications on the attribution of value
  • Buying professional practices - how to allocate value to patient/client records, goodwill and other assets?
• Structuring decisions:
  • Share sale versus business sale?
  • Earnouts and their tax implications - the interaction with small business CGT concessions

Session 3: 15 year and Retirement Exemptions: Maximising the Impact

The 15 year and retirement exemption are the most generous concessions available under the small business CGT rules. The requirements that must be satisfied in order to access the concessions are also onerous. This session will provide advisers with a “step-by-step” guide to effectively applying either the retirement or 15 year exemption. It covers:

• Overview of the specific legislative requirements of the 15 year and retirement exemption (e.g. what is permanently incapacitated?)
• Timing (i.e. when and how do taxpayers elect to apply the concessions)
• Interaction of the CGT concessions and superannuation (e.g CGT contributions cap)
• Payments to concession stakeholders from companies, trusts and through interposed entities
• Discussion of practical scenarios (e.g. in specie distributions into super, liquidators distributions)