On 12 December 2014, the Tax and Superannuation Laws Amendment (2014 Measures No 6) Bill 2014 received Royal Assent. The Bill makes changes to CGT rollovers for businesses by extending the existing business restructure rollovers available where a member of a company or unitholder in a unit trust can defer the income tax consequences of transactions that occur in the course of a business restructure. This includes allowing taxpayers to apply the rollovers where the CGT assets they held, the shares or units, are held as revenue assets or trading stock. The amendments also tidy up the law so the business restructure rollovers that apply to shares and units are now found in one set of provisions.
If you are contemplating a restructure of your business, get in touch with us. A rollover may be available to you that wasn’t available before these legislative changes were made.
"When I was working in Australia I had no idea what I was doing when it came to my taxes or finance, Brock and his team helped me so much, after a while i understood what I needed to do and they even did it for me, they explained everything in a no nonsense manner." David Dixon-Angélil
Phone: 1300 427 526
Address: 15 Melway Crescent
HARRISTOWN QLD 4350,
Cash flow is very often the number one stress for many of our business clients. There are fewtips that we have to assist the properly managing the cashflow within your business.
Haslam Consulting & Accounting is proud to announce that our Principal Brock Haslam has been shortlisted for Partner of the Year at the prestigious Australian Accounting Awards, partnered by Reckon.