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Recorded Webinars

Recorded Webinar: Accessing Funds from the Business Structure - The Tax Implications

There are various ways that funds can be extracted from a business structure, and each will have its own tax implications to consider. Those tax implications vary significantly depending on the method used. It’s important that practitioners are fully across how the ATO may view th
PRESENTED BY Kimberley Barnes Senior Associate - McInnes Wilson , Brisbane

Date/Time

About the Webinar

There are various ways that funds can be extracted from a business structure, and each will have its own tax implications to consider. Those tax implications vary significantly depending on the method used. It’s important that practitioners are fully across how the ATO may view the tax consequences of the various methods to extract funds. This session explores the topic, including:

  • The various ways that funds can be extracted from companies and trusts
  • The pros, cons and tax risks of using the various methods
  • Tips for extracting funds from a business structure in a tax effective manner
  • Tips when using a bucket company as:
    • the recipient of the extracted funds
    • the source of funds to be paid to shareholders 
  • The situations where superannuation contributions can be used to extract funds from business structures
  • The tax risks with having a strategy of accumulating funds within the business structure, including implications for:
    • the active asset 80% test for shares in a company
    • unpaid present entitlements to trust beneficiaries
  • The fund extraction methods that are attracting the ATO's attention, including:
    • the Division 7A issues
    • the section 100A issues
    • the family trust and interposed entity election issues  
  • Situations where the ATO may consider that tax effectiveness has become tax avoidance

Presented By

Kimberley Barnes
Senior Associate, McInnes Wilson Brisbane, QLD

Kimberly completed her Bachelor of Laws and Bachelor of Commerce (Accounting) at Griffith University and her Masters of Laws at the University of Queensland and was admitted as a solicitor in May 2016.

Kimberley specialises in the areas of commercial, taxation, succession planning and asset protection for individuals, trusts and companies.

As a dedicated solicitor, she has honed her skills to build a strong client rapport from the get-go and has developed excellent stakeholder relations both within and external to the firm. Kimberley has a passion for going the extra mile for her clients and prides herself on ensuring all T's are crossed and I's are dotted before wrapping up any project.

By using initiative, out of the box solutions and the ability to uniquely assess situations, Kimberley is able to provide end-to-end solutions for her clients in a timely, deadline focused manner.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Jason Hooker on (03) 8601 7709 or email: [email protected]

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