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Ask an expert: Gift of shares in a family company


My client is a profitable trading company which was incorporated in 2000. The shares are held equally by a family consisting of father Tom (T) and his two sons Matthew (M) and Brad (B) who are directors as well as their non-working mother Jeanette (J). Tom is looking to step down. He and Jeanette are considering gifting shares to their sons as part of their succession planning on the proviso that the sons and company support Tom in funding his retirement. Can you outline the main tax issues to consider and whether there is a more efficient way to structure matters?


The immediate issue to consider is the potential tax exposure which arises if T and J were to gift their shares. From an income...

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