A succession plan can help avoid unintended tax consequences

News Tax & Compliance Guidance

Date: 21st May, 2025 Source: Australian Taxation Office (ATO) Country: Australia Original Source

Brief

On 21/05/2025, the Australian Taxation Office (ATO) issued an update regarding a succession plan can help avoid unintended tax consequences. The ATO advises private groups to prioritize considering tax consequences of succession planning, particularly when selling a family-controlled business or transferring control to the next generation, and having a sound tax governance framework in place to manage tax issues associated with succession planning.

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Australian Taxation Office (ATO)

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A succession plan can help avoid unintended tax consequences

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A succession plan can help avoid unintended tax consequences

Brief

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