Notes Online Home 2021 Tax Structures and Asset Protection Seminar

This publication, as a whole, is available in HARDCOPY only

Topics included in these notes cover:

• The fundamentals of tax structuring and asset protection
• Building the right structure to protect a client’s assets
• NTAA guide to ‘Traditional’ business and investment structures
• Structuring for accountants, doctors and other professionals
• Navigating the CGT SBCs with different structures
• Restructuring clients’ affairs tax effectively

Chapter 1

The fundamentals of tax structuring and asset protection

The following notes consider the main issues associated with assisting clients generally with their structuring decisions under the following broad headings:

• NTAA Guide to the key issues to consider when establishing a structure for a client
• Establishing effective asset protection plans for clients
• Key asset protection issues for creditors and debtors; and
• Directors face unprecedented exposure

KEYWORDS: fundamentals, tax structuring, asset protection, NTAA, guide, key, issues, establish, structure, client, effective, plan, creditors, debtors, directors, unprecedented, exposure,

Chapter 2

Building the right structure to protect a client’s assets

This chapter of the seminar notes looks at building the right structure to protect a client’s assets:

• Key tax issues for business clients
• Strategies to prevent creditors attacking the family home
• ‘Mum and Dad’ partnerships – what are the benefits and risks?
• Keeping assets in the family when faced with a relationship breakdown

KEYWORDS: building, right, structure, protect, client, assets, key, tax, issues, business, strategies, prevent, creditors, attacking, family, home, mum, dad, partnerships, benefits, risks, relationship, breakdown,

Chapter 3

NTAA Guide to ‘Traditional’ business and investment structures

This chapter of seminar notes focuses on the NTAA guide to ‘Traditional’ business and investment structures:

• Discretionary trusts remain popular but beware they come with plenty of baggage
• What tax structuring and asset protection advantages do companies offer?
• Key considerations where unrelated parties are carrying on business together

KEYWORDS: NTAA, guide, traditional, business, investment, structures, discretionary, trusts, popular, baggage, tax, structuring, asset, protection, advantages, companies, key, considerations, parties, carrying

Chapter 4

Structuring for accountants, doctors, and other professionals

This section of the notes will focus on several key issues to be considered when choosing a business structure. These will be discussed under the following headings:

• Limitation imposed by law and/or by professional bodies
• Asset protection and other structuring considerations
• Tax treatment of a ‘no goodwill’ practice; and
• Tax issues when ‘income splitting’ in a professional practice

KEYWORDS: Structuring, accountants, doctors, professionals, limitation, imposed, bodies, law, asset, protection, considerations, tax, treatment, goodwill, practice, issues, income, splitting,

Chapter 5

Navigating the CGT SBCs with different structures

In this chapter of the seminar notes we discuss navigating the CGT SBCs with different structures under the following headings:

• How the basic conditions apply to different structures
• Determining when passively held assets are active assets; and
• Applying the CGT SBCs to shares and units

KEYWORDS: Navigating, CGT, SBC, structures, basic, conditions, apply, determining, passively, assets, active, shares, units,

Chapter 6

Restructuring clients’ affairs tax effectively

This segment addresses various issues associated with changing a client’s business structure, including how to do so tax-effectively, under the following broad headings:

• Issues to consider when reviewing the existing business structure
• CGT roll-overs – what opportunities exist?
• NTAA guide to the ‘small business restructure roll-over’ relief
• Using different options for restructuring small business clients

KEYWORDS: restructuring, clients, affairs, tax, effectively, existing, business, structure, CGT, roll-over, opportunities, exist, NTAA, guide, small, restructure, relief,  

Chapters and Articles in 2021 Tax Structures and Asset Protection Seminar