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  2023

Before you start my tax, me and Finley are splitting

Source: National

Published Date: 5 Sep 2023

 

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When faced with potential marital/relationship breakdown, the taxation implications of the division of assets and entities is often the last thing on a client’s mind. Structures evolve over time, and are usually established with little or no consideration of the possibility of divorce.

This is a critical topic and impacts all SME practitioners at some point with considerations including:

  • Entity control and continuity of ownership issues
  • UPEs, Div 7A and Family Trust Election implications
  • Revision of Trust Deeds, including Guardian or Appointor
  • Impact on Business Real Property
  • Superannuation and CGT asset rollovers available
  • Ethical issues; and
  • Recent case law.
Author(s)

Individual Session

Author(s): Chris Wallis CTA
Materials from this session:

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Details

  • Published By: Chris Wallis CTA
  • Published On:5 Sep 2023
  • Took place at:MCEC Melbourne

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