Are you restructuring?

February 5, 2019 ,

When you change the structure of your business, ownership of the assets doesn’t really change. Which is why the ATO allows you to transfer assets as part of a restructure without having to pay income tax on that transfer.

In the past there were still other tax consequences that applied when transferring depreciating assets. The ATO has recently changed this; there will no longer be any income tax consequences when your restructure involves the transfers of depreciating assets.

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