Law Companion Guideline
LCG 2016/3A2 - Addendum
Small Business Restructure Roll-over: genuine restructure of an ongoing business
LCG 2016/3 is amended as follows:
After the paragraph; insert new paragraph:
44A. Note that in this example, Trent has no family members and this is significant for concluding that the ultimate economic ownership of the business is in fact maintained. Generally, the presence of a discretionary trust will mean that to access the SBRR an alternative ultimate economic ownership test must be considered (see Example 12 from paragraph 103 below).
In the first sentence, after 'will', insert 'generally'.
This Addendum applies on and from 1 July 2016.
Commissioner of Taxation
31 August 2016
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