Description

Including the interaction of the LTC rules and the bright-line rules

This webinar considers a number of practical issues that arise with look-through companies.

The eligibility criteria to become and remain a look-through company will be examined, along with the use of look-through companies for cross-border investment.

Specific issues discussed will include the interaction of the LTC rules and the bright-line rules, how payments made by a look-through company to a “working owner” are taxed, how to deal with distributions and overdrawn current accounts, the tax consequences of transferring shares in a look-through company, and calculating income on conversion of an ordinary company to a look-through company.

ORIGINAL BROADCAST DATE

7 March 2024

LEARNING OUTCOMES

You will:

• Learn about the criteria for a company to become a look-through company.
• Understand what tax implications arise when a company ceases to be a look-through company.
• Know the rules concerning working owners, shareholder salaries and fringe benefits tax.
• Understand how to deal with distributions and overdrawn current accounts.
• Learn how the look-through company rules interact with the bright-line rules.
• Know when a look-through company can be used for cross border investment.
• Learn when an income tax liability arises on the disposal of interests in a look-through company.
• Know how income is calculated on conversion of an ordinary company to a look-through company.

SUITED TO

Junior, intermediate and senior accountants, and lawyers who advise clients on structuring issues.

PRESENTER

Harry Waddell, Senior Associate, Tomlinson Law.