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Business Restructuring
It is important to remember that as your circumstances change, your structure should also be reviewed. We regularly advise clients on how they can achieve their objectives through restructuring their existing circumstances. In today's business environment, whether it be rural, professional or commercial, you cannot rely on one structure universally to provide you with the right outcome no matter what the circumstances.
Generally, clients undertake a business restructure for any one or more of the following reasons:
- the client wishes to maximise the protection of their business assets and personal assets
- the client's current business structure has limited flexibility, e.g. access funds for investment purposes
- the client wants to introduce new partners or family members into their business
- the client wants to structure their affairs so that, on their death, they pass their assets to intended beneficiaries in a tax effective and asset protective environment
- the clients want to lock in capital gains tax concessions
However, before undertaking any restructure, Cleary Hoare always consider the:
- practicality of the restructure
- stamp duty implications
- capital gains tax implications
- income tax implications
- necessary documents to be prepared