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.

How the $3m super tax may affect you (and what to do next)

By Michelle McVeigh • June 19, 2025
As the federal government moves to introduce a new 15% tax on superannuation earnings above $3 million (known as Division 296 tax), concerns and debates have emerged about the broader implications for investment strategies, retirement planning, and even the property market.

The superannuation changes from 1 July

By Jude Schofield • June 12, 2025
The super changes coming into effect in the 2025-26 financial year. Australian superannuation laws are set to change once again in the 2025-26 financial year as the nation’s fast-growing retirement savings system continues to evolve. Below is a summary of the changes that will come into effect from 1 July, 2025, as well as looming legislative changes.