Evolving structures of SMEs: more than meets the eye – 2017 Queensland Tax Forum

Peter McKnoulty CTA

Peter McKnoulty CTA is a Consultant with McCullough
Robertson and has been with the firm for 36 years, including 25 as Partner. Peter specialises in business structures and restructures, and estate and succession planning. He will be one of almost 40 expert presenters at this year’s Queensland Tax Forum

Peter’s presentation, ‘Evolving structures
of SMEs – more than meets the eye
’ will look at the modern SME and recent
legislative changes that may present new opportunities for SME structures. 

We asked him to tell us more about what his sessions will cover.
“I want to dig into whether trusts are still the vehicle
of choice for SMEs," Peter said, "concentrating on the use of small business entities and
their advantages, options for restructuring and what the tax 
implications of
restructures can be.”

“The perennial question we face as tax advisers is 'What's
the best vehicle for a business or investment?' I've seen enormous change in
the landscape over 25 years, and those changes keep coming! It is important to
keep up to date with the latest factors affecting this issue. The paper I’m
presenting will touch on some aspects of this (the benefits of small business entities) and will look at different options for restructuring entities.”

Peter’s session will review structuring considerations,
including small business entities and their advantages, and the options available
when a client is looking to restructure, such as the small business rollover, small
business concessions, Division 615 rollover and other available CGT rollovers.
It will also cover the tax implications when considering a restructure.

A member of The Tax Institute since the early 1980s, Peter served on the Institute's Queensland State Council until 2014. He was also the
first Queenslander to receive the Institute’s Meritorious Service Award. He said that “over the last 15-20 years many of my clients have been involved
in significant succession planning transactions and I feel fortunate to have
played a significant role in them. I have also recently established Transition
Planning Australia (TPA) to assist business owners and others with the personal
transition from business or career to life after full-time work – an area that
seems to be missing from the mix of succession planning services out there.”

which other sessions at the Forum he was keen to attend, Peter told us: “The keynote
address from Andrew Mills on ‘The tax administration continuum’ will be
interesting, as will Mark Robertson QC’s presentation on ‘Purpose – what does it
mean’. Also, the session on ‘Early-stage high-growth SMEs – practical approaches to working with start-ups’ from Brian Ruddle.”

You can find
out more about these sessions and the rest of the program on our website. The 2017 Queensland Tax Forum takes place on 24-25 August at the Brisbane Marriott Hotel.


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