CGT rollover

Discussion in 'Accounting & Tax' started by daz__, 22nd Jul, 2008.

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  1. daz__

    daz__ New Member

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    I'm new to this forum, so excuse me if I don't utilise the correct terminology...

    We have a sole trader business, and are setting up a family trust. We also have private debt from our house. If we sell the business to the family trust for profit (so we can pay out our private debt) and realise a CG, are we satisfying the rollover provisions by being beneficiaries in the family trust?
     
    daz__, 22nd Jul, 2008
    #1
  2. DaveA__

    DaveA__ Well-Known Member

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    Location:
    Sydney, NSW
    this is a pretty technical question which only an accoutant could really answer....

    overall sounds reasonable but we know the laws dont always work that way
     
    DaveA__, 23rd Jul, 2008
    #2