Difficult structures made easy (or at least slightly less difficult) – 2017 WA Tax Intensive

Linda Tapiolas CTA
Advisers working with clients who are planning for the future usually begin with the end in mind, and with a focus on the 'planned end' such as a trade sale or family transfer.

Planning for the unplanned needs to be front of mind, incorporating a degree of flexibility and allowing for restructuring down the line as events arise or circumstances change.

“Clients may want or need to restructure for a range of reasons”, says Linda Tapiolas CTA, a Partner with Cooper Grace Ward Lawyers’ commercial team.

“There is also a range of different roll-overs and CGT concessions which may be available to them when they choose to do so, each of which has a number of potential particular traps associated with them.”

Linda will present the session, ‘Dealing with Difficult Structures’, at the upcoming WA Tax Intensive.

We spoke to her about her presentation.

Looking at how advisers can work with a difficult structure, and the care that needs to be taken during the lifetime of a structure, with the end in mind, Linda will address the income tax rollovers and concessions that are useful in restructuring. She will also cover some other key factors associated with restructuring businesses and asset ownership. 

“In this session we will look at the reasons why clients may be restructuring, and the different types of roll-overs which can be used when restructuring, I’ll be focusing on the issues relating to the various roll-overs and a comparison between the main stream roll-overs, small business CGT concessions and the Subdivision 328-G roll-over.”

Linda specialises in revenue law, restructuring advice and negotiating commercial transactions at Cooper Grace Ward Lawyers, where her team works closely with accountants and financial planners to provide practical solutions for their clients.

“Prior to becoming a lawyer I was an accountant for 18 years, which means I am quite comfortable reading balance sheets,” Linda said.

“With the range of different roll-overs and CGT concessions that may be available, a number of potential blind spots exist that can trip up advisers. Before restructuring, it is important to identify whether each condition relating to a roll-over or concession will be satisfied and whether is it better for the client to apply a particular roll-over or to trigger the capital gain.”

Linda’s session will impress on advisers just how careful they need to be when doing the ground work to ensure clients can maintain and realise value, both now and in the future. She will also look at related issues, including managing valuations and considerations related to buyers versus sellers.

In addition, Linda will present a factual case study involving an operating business conducted through a partnership of trusts, where IP is owned in partnership by associated individuals.

“Delegates should walk away from my session with a better awareness of the particular traps of each of the roll-overs and a comparison of the different roll-overs and concessions.”

The sessions at this year’s Intensive cover the broad themes of succession, transition, winding down and exiting from companies and trusts – issues that will almost inevitably arise for tax practitioners and their clients during (and towards the end of) the business structure’s lifecycle.

Matthew Burgess also presents at the Intensive, on 'Succession planning for family trusts'.

The 2017 WA Tax Intensive takes place on 9-10 November 2017 at the Perth Convention and Exhibition Centre.

You can find out more about Linda’s session and the rest of the program on our website.


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