Easier small business restructures on the way

 

On Thursday 4 February 2016, the Tax Laws Amendment (Small Business Restructure Roll Over) Bill 2016 was introduced into parliament.

The aim of this legislature is to allow small businesses to change their legal status without incurring a capital gains tax liability.

Often through changed circumstances the current business structure is no longer appropriate and this Bill (if passed) will allow streamlined restructures.

If you have any queries in relation to this opportunity then do not hesitate to contact Dean Vane or your partner at UHY Haines Norton on 07 3210 5500.