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Business and Entity Sales Series: GST and Stamp Duty Issues

Published on 28 Nov 2006 | Took place at Leonda by the Yarra, Hawthorn, VIC

While most vendors and purchasers consider the direct tax implications to any proposed sale of a business, many do not consider the GST and stamp duty issues until it is too late. Often unexpected GST or stamp duty liabilities could have been prevented by both parties actively considering the potential impact prior to the transaction taking place. These seminar materials highlight some of those potential issues and show how easy it is to ensure no unexpected liabilities arise

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Individual sessions

Business and entity sales: stamp duty issues

Author(s):  Jennee CHAN,  Sue WILLIAMSON

This paper covers the following issues in relation to the sale of a business with assets located throughout Australia:

  • the types of property subject to duty in each jurisdiction
  • share transfers and unit transfers
  • land rich duty including the triggers in each jurisdiction and the exemptions available
  • pre-sale structuring (including the availability of corporate reconstruction exemptions)
  • impact of dividends paid pre-sale or in the course of the sale (Dick Smith case)
  • put and call options
  • traps and opportunities to look out for.
Materials from this session:

Business and entity sales: GST issues

Author(s):  Brad MILLER

This paper covers:

  • GST classification of sale of business
  • supplies qualifying for GST-free treatment as a going concern
  • GST treatment of sale of shares/units in a company/trust
  • timing of supply and impact on entities entering/exiting GST groups
  • availability of input tax credits and application of the Financial Acquisitions Threshold
  • post acquisition issues.
Materials from this session: