2015

Structuring Professional Practices - ATO Guide and Other Recent Developments

Source: New South Wales

Published Date: 3 Feb 2015

 
This topic considers how professional practices should be structured and is primarily aimed at accounting practices. Practitioners can now choose from an array of business structures. For practitioners already operating within an existing structure, the issue is how to move to another structure without incurring significant transaction costs. The ATO has always been interested in such structures and this session will also cover the recent Taxpayer Alert, TA 2013/3 : Purported alienation of income through discretionary trust partner.

This event covered the following:

  • minimisation of income tax
  • minimisation of tax on capital gains
  • asset protection
  • funding
  • cost of establishing and maintaining the structure
  • admission and exit of equity participants
  • how control is exercised
  • other practical considerations e.g. rules under which the practice will operate CPA or the ICAA.

Structuring professional practices

Author(s): Andrew Noolan CTA

Tax update February 2015

Author(s): Peter Adams CTA
Materials from this session:

Details

  • Published On:3 Feb 2015
  • Took place at:National Australia Bank, Sydney

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced 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.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Tags

2015

Share this page