The current COVID-19 climate is a challenging one. If you are fortunate enough to have been able to hold onto your business, you may very well have started to think of how it can be changed to better adapt to unforeseen hurdles.
These hurdles may be better improving the asset protection currently afforded by the structure, locking in key employees or taking on an investor. The commercial drivers may be different depending on the business, but the legal, tax and duty issues are very similar.
If a restructure was previously considered and put to one side because of too high values or turnover meaning an inability to access the small business CGT concessions, the current climate might be an opportune time to revisit those concessions.
The Tax Restructuring During COVID 19
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