Restructure opportunities without tax or stamp duty
The 2016-17 NSW Budget has confirmed the abolition of mortgage duty, marketable securities duty and non-real estate business assets from 1 July 2016 as planned. In combination with the new small business restructure roll-over (which will also apply from 1 July 2016), this presents an opportunity to review your business structure and consider whether an alternative structure would be more appropriate. In circumstances where the rollover is available, a restructure might now be more attractive in addressing tax planning, asset protection and estate planning goals without the tax and stamp duty obstacles which may have arisen before 1 July 2016.
If you would like to explore the benefits a restructure could provide for your small business, please contact our Tax & Estate Planning Team.