The ATO review of service trusts and introduction of Professional Standards Legislation and the Service Trusts ruling will have changed the landscape for your practice. This paper considers those changes and discusses various practice entity options, including:
- asset protection
- does Professional Standards legislation really limit your exposure?
- service trusts - what future?
- CGT concessions for alternate structures
- goodwill v 'intangible asset inherently connected' with a business
- partnership of trusts - do they have a place in accounting firms?