A new business client came to us after becoming fed up with the large tax bills they were
getting each year. It turns out this client was trading in trust structure. Although this
structure suited their business when they first began trading, the business had experienced
considerable growth over the years, and a trust was no longer the most appropriate trading
structure for them. The client had discussed restructuring the business with their previous
accountant, but the stamp duty and capital gains tax concerns outweighed the benefits.
Upon discussing the problem with us, we were able to restructure the clients business in a
way that resulted in negligible stamp duty and capital gains tax, whilst still achieving a
structure that saved the business $120K tax in the first year.