My doctoral thesis is on Business Succession Planning. I can confirm that the ATO is correct in noting increased sales, restructuring and succession planning of businesses. The baby boomers have obviously decided not to wait until 2011 (which is when the first of us turn 65 years of age).
At Brett Davies Lawyers, we give advice to accountants Australia wide on how to reduce their clients' stamp duty and reduce Capital Gains Tax (hopefully down to zero). The ATO believes that some clients are deciding not to get professional help when they sell or transfer (to their children) their small business.
Link to this comment:
All Comments (0)