New law eases tax burden on business entity restructure

David Briese • March 21, 2016

A great frustration for small business owners is being stuck in a structure – such as a partnership, trust or company – that is wrong for them, but it’s too difficult or too costly to change it.

However, a new law which applies from 1 July 2016, will allow businesses more flexibility to change the legal structure of their entity.

The Tax Laws Amendment (Small Business Restructure Roll-over) Act 2016 allows small businesses to restructure with an easing of the capital gains tax burden.  Gains or losses that may arise from the transfer of capital gains tax assets, trading stock, revenue assets and depreciating assets, as part of a business restructure, can now be deferred.

It’s a great opportunity to reassess your business structures.

Your business may have been set up in a complex structure that you want to simplify, or maybe your business has changed over time and you now need a structure that allows for this growth. Using the wrong structure can cost you time and money especially if you are missing out on tax breaks and other incentives that you would otherwise be entitled to.

Have a look at how your business is currently operating and where you want to take your business in the future; then talk to your accountant and legal advisor about whether you need to reorganise into a structure that is better suited to your needs.

Adrian Rasmussen retires after decades supporting Regional Queensland

By BMO • June 30, 2026
After an incredible career dedicated to supporting regional businesses, farming families and rural communities, BMO Business Centre Partner Adrian Rasmussen will officially retire from the partnership effective 30 June 2026. For many across the Western Downs and beyond, Adrian has been far more than an accountant or advisor. Over decades in business, he has built trusted relationships grounded in honesty, loyalty and a genuine understanding of regional life and the people who live it. Adrian’s connection to the country and agriculture has always been at the heart of who he is. He has worked alongside generations of farming families and business owners through seasons of growth, challenge and change, becoming a steady and respected presence for clients, colleagues and the wider community alike. Reflecting on his time at BMO, Adrian said the relationships formed throughout his career have been among the most rewarding parts of the journey. “It has been a privilege to work with so many wonderful people over the years; not only clients, but colleagues and communities who have become lifelong friends,” Adrian said. “Regional communities are built on relationships, trust and supporting one another, and I’m incredibly grateful to have been part of that throughout my career.” BMO Business Centre Managing Partners Kelvin Tyler and Michelle McVeigh said Adrian’s contribution to both the business and the region would leave a lasting legacy. “Adrian has played an incredibly important role in shaping BMO into the business it is today,” they said. “His care for clients, commitment to regional communities and calm, practical approach have earned enormous respect across our industry and the communities we serve. While we will certainly miss having him in the office, we are excited for Adrian and his family as they enter this next chapter.” While stepping away from the partnership, Adrian is looking forward to spending more time with family, on the farm and enjoying a well-earned change of pace after many years dedicated to supporting others. Everyone at BMO Business Centre extends their sincere thanks to Adrian for his years of service, friendship and leadership, and wishes Adrian and his family all the very best for the future.

Your 30 June superannuation checklist

By Nikki Ashurst • June 4, 2026
Five easy ways to get more into your super fund before the end of the financial year.