Tax Issues for Family-Owned Companies 2021 - 12 August 2021 (On Demand)
This webinar considers a number of practical tax issues that arise with family-owned companies. These issues include choosing whether to structure a family-owned company as an ordinary company or a look-through company, PAYE and FBT issues, the taxation of cash and non-cash distributions, dealing with overdrawn current accounts and debt remission, restructuring family-owned companies, and liquidating family-owned companies.
ORIGINAL BROADCAST DATE
12 August 2021
- Learn about the key differences between ordinary companies, qualifying companies and look-through companies.
- Understand how remuneration paid to owners and relatives of owners is taxed.
- Know when non-cash benefits paid to owners and relatives of owners will be subject to FBT, taxed as a dividend or can be made tax-free.
- Learn how to deal with overdrawn current accounts and restructure debt owed by insolvent companies.
- Understand what tax issues arise when the ownership of a family-owned company changes or a family-owned company is restructured.
- Know when capital gains can be distributed tax-free on liquidation, including how to deal with “tainted capital gains”.
Junior and intermediate accountants, and lawyers that advise clients on structuring and restructuring family-owned businesses.
Stephen Tomlinson, Principal, Tomlinson Law
1.5 CPD Hours
On Demand Event
Complete online in your own time (Self-paced)