Estate planning Succession Trusts

The family business - Transfer to the next generation?

Source: New South Wales

Published Date: 31 Oct 2013

 

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

A common problem facing many successful family owned businesses of all sizes is how to plan for the transfer of the business to the next generation. Several recent high profile cases that have received media attention highlight the many issues that need to be considered and the practical difficulty in achieving the objective of a smooth transition. In many cases business succession planning is considered too hard and therefore, it is given a very low priority by clients.

This paper covers:

  • how you can assist your client with the development of a workable business succession plan
  • what options are available to the client
  • identify the business structure and implementing a restructure if necessary
  • using the CGT concessions to restructure the business in preparation for succession
  • practical issues with businesses conducted via family discretionary trusts
  • what can we learn from the mistakes of others
  • blended families and related problems with business succession.

Individual Session

The family business - Transfer to the next generation?

Author(s): Chris Tsovolos FTI

Details

  • Published By: Chris Tsovolos FTI
  • Published On:31 Oct 2013
  • Took place at:Swissotel, Sydney

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Estate planning Succession Trusts 2013

Share this page