I heard a horror story the other day about poor structuring. Let’s just call this person Wayne Structureless for simplicity. Wayne has shares in a very profitable small business in his own name.
The Government has introduced the “Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016”.
What does this mean for me?
It’s fantastic news for business owners who have been set-up in a dreaded company structure, at present this structure can be extremely difficult to transfer out of, due to capital gains tax (CGT) implications.