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Unwanted Company? CGT and Dividend Issues on Exiting Private Companies presentation

Member Price: Free
Non Member Price: $15.00

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Published on 12 Sep 03 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

Companies are generally regarded as inappropriate vehicles for holding appreciating assets.

This presentation explores income tax and CGT issues arising from sale of a business and the voluntary liquidation of a private company and considers a number of practical issues including:
- the tax impact on pre and post CGT shareholdings
- what changes matter for a pre or post CGT business
- dividend distribution issues for interim and final distributions
- how the distribution affects pre CGT and tax-free amounts
- franking account issues under the new rules
- the operation of CGT concessions at the corporate level including the small business concessions
- eligibility at shareholder level for the 50% CGT discount
- treatment of the capital proceeds for the cancellation of shares, including the associated dividend issues.

Author profile

Prof Graeme Cooper FTI
Graeme Cooper, FTI, is an Emeritus Professor at Sydney University Law School and consultant to Herbert Smith Freehills. He is a former Chair of the New South Wales State Council of The Tax Institute and former member of the National Council. He has worked as a consultant to the ATO, Treasury, Board of Taxation, United Nations, OECD, World Bank, the International Monetary Fund and several foreign governments. He was admitted to legal practice in New South Wales and Victoria, and practised commercial law and tax in Sydney before entering teaching. He has taught in law schools in Australia, Europe, Canada and the United States, and holds degrees from the University of Sydney, University of Illinois and Columbia University, New York. - Current at 18 July 2023
Click here to expand/collapse more articles by Graeme S COOPER.

 

This was presented at Small Business Intensive .

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