Business Structures & Restructures Online Workshop 2024 Session 4
Recorded 28 August 2024. Tax consolidation & professional practices
Gain the confidence to explore business structure options with clients
The pros, cons, risks and key issues to consider with the most popular SME structures
Opportunities within the tax system to restructure in a more efficient way
Recorded 28 August 2024
Business structure makes a difference.
It impacts on:
- The amount of tax paid and when it’s paid
- The risk exposure for owners and management
- Ease of succession planning, and
- Costs of operation and ease of debt funding
Using real life case studies, the Business Structures & Restructures online workshop will help you:
- Identify the key factors and risk areas when creating a structure
- Recognise the indicators of when a structure is past its ‘use by’ date
- Manage changes to a business structure, and
- Work through the ATO’s specific guidance on professional firm profits.
Sometimes the best structure from a tax perspective just doesn’t make sense commercially. There is no ‘one size fits all’ approach and sometimes the right structure will involve compromise. Understanding what compromises to accept requires an understanding of the impact of each.
Best suited to partners/directors, managers and client facing team members as well as CEOs and CFOs from mid-sized or growing SMEs.
Using the tax consolidation rules
- Costs and benefits of forming a consolidated group
- A step-by-step guide to the consolidation rules for SMEs
- Identifying whether a taxable gain could be triggered on formation of the group
- Bringing losses into a consolidated group and using them
Professional practice structures
- How to determine whether income is derived from personal services or a business structure
- The tax impact of failing the PSI rules
- What the ATO and courts expect when the PSI rules are passed
- The ATO's guidance in PCG 2021/4 on dealing with profits derived from a business structure rather than personal services and guidance that isn't contained in the PCG
- Staying under the Part IVA radar
Michael Carruthers
Tax Director, Knowledge Shop
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a long-term member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
Business Structures & Restructures Online Workshop 2024 Session 4
Tax & Accounting
2 modules
Investment per person: $ 499.00
Team cost: $ 1,250.00
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