Small Business Restructure Roll-over Determination now in Force

 

legislative determination on small business restructure roll-over has ran out its disallowance period on 8 May 2018 and is now in force.

The effect of the Taxation Administration (Remedial power — Small Business Restructure Roll-over) Determination 2017 is to ensure that where the depreciating assets are transferred under Subdiv 328-G of ITAA 1997 (small business restructure roll-over) the transfer will not result in a balancing adjustment. This modification will most commonly apply where the restructure involves the transfers of depreciating assets by the trustees of trusts to beneficiaries, by companies to shareholders, and other associated persons.

© CCH

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