Came across this interesting this article from Zimsen Partners Pty Ltd. and immediately thought it was worth sharing. It’s called Important Tax Tips for Australian Small Businesses in 2020.
In it, _ shares some valuable insights. Here’s a short snippet:
Assets can also be transferred to shareholders in lieu of capital dividends and can be used for repayment against loans given by shareholders. This will help solve tax problems. Nonetheless, the market value of the asset will determine whether it is a cost-effective deal or notZimsen Partners
Zimsen Partners gets even more in-depth in the rest of the essay. So, if you want to read more of it, just click on this link to the full article at the Zimsen Partners’ website.