On 13 July 2016, the Australian Taxation Office published two finalized law companion guidelines on the new Small Business Restructuring Roll-over (SBRR) rules, which received royal assent on 8 March 2016 ({News-2016-03-29/A/2- previous coverage}). The guidelines explain the income tax consequences and adjustments that occur when the transferor and transferee choose to apply the SBRR, as well as the determination of a genuine restructure of an ongoing business in relation to the new rules.
Cl…