Source: Taxation In Australia Journal Article
Published Date: 1 May 2016
The question of how to best remunerate a business owner is a subset of a larger set of questions around the broader wealth extraction strategy for a business owner in a small-to-medium business. This article focuses on how wealth is to be extracted while the owner is working in the business, and what plans are in place for how it is to be extracted on ultimate exit of that owner from the business. This article also considers the factors in determining the most effective way in which to do this while being mindful of the business owner's exit plan. The focus is on companies. However, similar considerations may apply to businesses operating through trusts. This article also addresses tax and other related issues to be considered when planning and implementing a business owner's wealth extraction strategy.
More by Kaylene Hubbard
Mutuals - not for the faint hearted! - Paper 13 Mar 2024
Mutuals - not for the faint hearted! - Audio 13 Mar 2024
Mutuals - not for the faint hearted! - Presentation 13 Mar 2024
Understanding the taxation of not-for-profits - Presentation 17 May 2023
Understanding the taxation of not-for-profits - Paper 17 May 2023
Tax Update: September 2017 - Presentation 05 Sep 2017
Tax and the sale of a pre-CGT business - Journal 01 Apr 2016
Forgive but don't forget: CGT event C2 and related party loans - Journal 01 Sep 2015
Section 25-5: More than meets the eye? - Journal 01 Apr 2012
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags