Business Structures & Restructures Online Workshop
How to balance the tax issues with the commercial considerations to achieve the best possible outcome
The confidence to explore business structure options with clients
Pros, cons, risks & key issues to consider with the most popular SME structures
The latest ATO guidance on profits of professional services firms
A 4-Part Live Instructor Led Online Workshop
Business structure makes a difference.
It impacts on:
- The amount of tax paid and when it’s paid
- The risk exposure for owners and management
- Ease of succession planning, and
- Costs of operation and ease of debt funding
Using real life case studies, the Business Structures & Restructures online workshop will help you:
- Identify the key factors and risk areas when creating a structure
- Recognise the indicators of when a structure is past its ‘use by’ date
- Manage changes to a business structure, and
- Work through the ATO’s specific guidance on professional firm profits.
Sometimes the best structure from a tax perspective just doesn’t make sense commercially. There is no ‘one size fits all’ approach and sometimes the right structure will involve compromise. Understanding what compromises to accept requires an understanding of the impact of each.
Best suited to partners/directors, managers and client facing team members as well as CEOs and CFOs from mid-sized or growing SMEs.
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AU $420 members
AU $499 non-members
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AU $1,060 members
AU $1,250 non-members
Details
Recorded: 19, 21, 26 & 28 August 2024
FAAA accreditation pending
Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.
*Office Registrations. Maximum 10 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.
“Fantastic workshop. Very educational and mind-opening to alternative thinking”
2023 workshop attendee
What we cover
Using real life case studies, the workshop is designed to give you confidence when approaching business structures.
What's included?
- 4 x 1.5 hour+ webinars
- 3 month access to Q&A embedded webinar recording - so don't worry if you can't make all of the live dates
- Reference notes
Session 1: Putting an appropriate business structure in place from the start
Overarching principles for business structures
- Making sure the fundamentals aren’t forgotten
- Competing tensions
Key features of different entity types
- Advantages and disadvantages of operating as a sole trader, partnership, company or trust
- Issues that need to be considered when setting up the business structure
- Dealing with the ATO’s latest guidance on trusts and section 100A
- The impact of the changing company tax rate and franking rates
- Warning on joint venture arrangements
- Practical solutions to common problems
Weighing up the main factors
- Tax issues
- Risk and asset protection
- Business efficiency
- Cash flow
- Flexibility
- Access to the small business CGT concessions
Session 3: Tax issues when restructuring a business
CGT issues on moving to a new structure
- Fundamental CGT issues that need to be managed
- Applying the small business CGT concessions, including common issues and problem areas
- The impact that a client’s business structure can have on accessing the small business CGT concessions
- Common traps and how to manage them in practice
Applying rollover relief
- The small business restructure rollover rules and when they can be used
- Specific rollovers that are aimed at business restructures
- Weighing up the advantages and disadvantages of the different rollover options
Other tax issues to consider
- GST and the going concern provisions
- Depreciating assets and trading stock
- Franking credits and tax losses
Session 2: Common SME structures and when to change
Common SME structures
- Advantages, disadvantages and issues to consider for common SME structures
- Companies with shares held by trusts
- Partnerships of trusts
- Unit trusts
- Mixture of company and trust structure
- Holding company / subsidiary company
- When particular structures might be more suitable than others
- Assessing the impact of recent ATO guidance on trust structures
- Current thinking and practical solutions
Moving to a more complex structure
- Identifying when a business has outgrown its existing structure
- Are you change friendly?
- Managing the change process
- Avoiding the traps
Session 4: Tax consolidation & professional practices
Using the tax consolidation rules
- Costs and benefits of forming a consolidated group
- A step-by-step guide to the consolidation rules for SMEs
- Identifying whether a taxable gain could be triggered on formation of the group
- Bringing losses into a consolidated group and using them
Professional practice structures
- How to determine whether income is derived from personal services or a business structure
- The tax impact of failing the PSI rules
- What the ATO and courts expect when the PSI rules are passed
- The ATO's guidance in PCG 2021/4 on dealing with profits derived from a business structure rather than personal services
- ATO guidance that isn’t contained in the PCG
- Staying under the Part IVA radar
Our presenter
Michael Carruthers
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.