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Getting money out of companies paper

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Published on 15 Mar 07 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper explores the tax issues that arise when winding up a private company and covers income tax, GST and stamp duty aspects including:

  • why liquidate? - comparison with capital return mechanisms
  • dividend v capital proceeds - where do I start?
  • managing available franking credits
  • CGT events C2 and G1
  • implications of various liquidation strategies
  • interaction with CGT discount and small business concessions
  • liquidating consolidated entities - where should you start?

Author profile

Michael Hine CTA
Photo of author, Michael HINE Michael is a founding partner of Newton & Henry. He has extensive knowledge of most major taxes including payroll tax, income tax and fringe benefits tax and consults regularly on the practical implications of the GST. Michael was the adviser to the Tasmanian Government’s GST Implementation Program. He was the State Chairman of The Tax Institute in 2001, was a member of the National Executive of the Institute and the Chairman of the Institute’s National Technical Committee. Michael has been a member of the Commissioner’s Division 7A reference group since its inception and was instrumental in lobbying for the changes that saw the introduction of s 109RB discretions. - Current at 23 June 2021
Click here to expand/collapse more articles by Michael HINE.

 

This was presented at 22nd National Convention: Tackling Tax .

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