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  Miscellaneous 2003

Unwanted Company? CGT and Dividend Issues on Exiting Private Companies

Source: Western Australia

Published Date: 12 Sep 2003

 
Companies are generally regarded as inappropriate vehicles for holding appreciating assets.

This presentation explores income tax and CGT issues arising from sale of a business and the voluntary liquidation of a private company and considers a number of practical issues including:
- the tax impact on pre and post CGT shareholdings
- what changes matter for a pre or post CGT business
- dividend distribution issues for interim and final distributions
- how the distribution affects pre CGT and tax-free amounts
- franking account issues under the new rules
- the operation of CGT concessions at the corporate level including the small business concessions
- eligibility at shareholder level for the 50% CGT discount
- treatment of the capital proceeds for the cancellation of shares, including the associated dividend issues.

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Author(s)

Individual Session

Unwanted Company? CGT and Dividend Issues

Author(s): Graeme S Cooper FTI
Materials from this session:

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Details

  • Published By: Graeme S Cooper FTI
  • Published On:12 Sep 2003
  • Took place at:Fremantle Sailing Club, Fremantle

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