Small Business Restructuring Conference
Things move fast in the business world. A growing business can quickly outgrow its business structure, and the resulting restructuring process can quickly become quite complex. Gain the insights necessary to advise your clients when they’re considering a business restructure so that their business can achieve its current and future goals without falling prey to the many traps that can sink a business.
Description
Attend and earn 7 CPD Points/
This conference was recorded in VIC on 11 September 2018
Session 1
Restructuring Strategies and Rollover Issues
Chair: Chaya Lal, Partner, PKF Melbourne
9.00am to 10.00am: Restructuring and Asset Protection Master Plan: Setting the Stage
- When to restructure, timelines and risks of getting it wrong
- Restructuring to protect personal and business assets
- Building income tax efficiency
- Finance and investment flexibility
- Tips and Traps
Presented by Dianne Cuka, Partner - Private Client Services, EY
10.00am to 11.30am: Small Business Restructure Rollover: A Practical Guide
- When to use it and when to look at alternatives
- Eligibility conditions and provisions including ultimate economic ownership and active assets tests with particular emphasis on trust entities
- Safe harbour
- When is a restructure not a genuine restructure for the purposes of the small business rollover?
- Tax consequences of the rollover: income tax, stamp duty, GST
- Satisfying the anti-avoidance rule in restructuring a business
- Interaction of Subdivision 328-G with Division 7A and estate planning
Presented by George Kolliou CTA, Director, AG Tax Lawyers
11.30am to 11.45am: Networking and Refreshment Break
11.45am to 1.15pm: General Rollovers: Implications and Finding the Best fit
Explore transfer of business assets using general rollovers and the income tax, stamp duty and GST implications using practical examples.
- Transfer from individual or trustee to company (Subdivision 122-A)
- Partnership to a company structure (Subdivision 122-B)
- Script for Script rollover
- Trust to Company and the impact of UPEs
- Application of division 615
- How to treat related parties.
Presented by Michael Gastevich, Partner and National Tax Leader, Deloitte Private
Session 2
CGT Concessions, Commercial Issues and Asset Valuation
Chair: Jacci Mandersloot, Director, MC Tax Advisors
2.00pm to 3.00pm: Commercial Implications to Consider when Restructuring
The transfer of business assets triggers a few commercial consequences that need to be addressed.
- Effect on employees contracts and contractors agreements
- Customer and supplier accounts
- Leases assessment
- New registrations – TFN, ABN and WorkCover
- Financing and loans review
Presented by Ross Higgins CTA, Partner and Diana Diaz, Associate, Mills Oakley
3.00pm to 4.00pm: Valuation and Apportionment of the Assets
- The assets that often need to be valued as part of a restructure
- Common valuation methodologies for these assets: What are they and how are they applied?
- Treatment of any synergies expected from the rollover
- Apportionment cross-checks
- Application of discounts for lack of control and marketability discounts
- Tax office expectations regarding valuations
- Retrospective valuations
- Tips and traps
Presented by Liz Smith, Director, Corporate Advisory, William Buck
4.00pm to 4.15pm: Networking and Refreshment Break
4.15pm to 5.15pm: Use of Small Business CGT Concessions
The small business CGT concessions can provide great tax benefits to taxpayers, but are also one of the most complex areas of tax legislation, so it is vital that advisors have the knowledge to apply them correctly. Discuss the key requirements and any tips and tricks advisers should be aware of, including;
- Concessions for sale of shares and units in a trust, including changes from 1 July 2018
- Meeting the active asset test
- Retirement exemption and 15 year exemption
- Interaction with superannuation
- Succession planning, death and small business CGT concessions
Presented by Jacci Mandersloot, Director, MC Tax Advisors
5.15pm Closing Comments by the Chair