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CGT rollover

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

  1. daz

    daz New Member

    Joined:
    22nd Jul, 2008
    Posts:
    1
    Location:
    Brisbane
    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?
     
  2. DaveA

    DaveA Well-Known Member

    Joined:
    19th Feb, 2007
    Posts:
    617
    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