Tax concession-ruiners and post-election tax outlook

Nexia Australia invites you to watch this informative webinar recording that could help make a big difference for your business.

This session is relevant for all business owners, no matter where you are in your business lifecycle.

Expecting those capital gains tax concessions upon exiting your business? Not so fast…

At Nexia, we enjoy working with business owners throughout their business lifecycle – start-up, growth, maturity, exit. We believe that business owners should be rewarded for what they do – providing value to your customers, taking on risk, and creating employment and wealth in the process.

Having advised on many business sales over the years, we have seen situations where things featured in a business years before being sold which caused a near-miss of denying one or more of those generous tax concessions. Unfortunately, there have been some occasions that could not be salvaged. Some planning in the years before the sale would have preserved those generous concessions.

It is heart-breaking after pouring all those years of hard work into their business, only to see up to 47% of their reward disappear in tax. That’s a long way from a possible 0% disappearing, if only those matters had got a little attention in the years before.

Post-election outlook

Despite the absence of any bold tax reform proposals, there are a number of significant matters relating to administering existing laws that will impact businesses and investors. These include the Australian Taxation Office’s renewed focus on anti-avoidance rules that target trust distributions, and allocating profits of professional firms in architecture, engineering, financial services, law, medicine and other fields.

The webinar recording covers the following:

• Sleeper issues in your business now that could deny you generous tax concessions upon eventual sale, even years down the track
• What you can do to neutralise these concession-ruining issues
• Post-election tax outlook, including the ATO’s anti-avoidance focus on trust distributions and professional firms
• Planning ahead keeps money in your pocket