Business Restructuring Services Australia
Professional Accounting & Advisory
Service at a Glance
Personalized scope & lodgementWage earners, investment property owners, CGT, crypto & standard returns
100% online video meetings (Outlook Calendar) or in-person
Direct electronic ATO portal lodgement by Registered Tax Agent
Draft explained and authorized by you before electronic submission
- Pre-lodgement draft walkthrough & written client sign-off
- Extended ATO tax agent lodgement deadlines available
- Transparent upfront quoting & zero lodgement without approval
What does business restructuring involve?
A business restructure changes how a business is owned, operated or legally structured. It is different from simply updating bookkeeping or lodging a tax return. It can require a coordinated transition from one entity or arrangement to another, including new registrations, asset transfers, accounting entries, tax treatment and closure or updating of old registrations.
Commercial Transition vs Insolvency Restructuring (Part 5.3B)
This service concerns changes to a business's entity, ownership or operating structure. It is not the formal small business restructuring process under Part 5.3B of the Corporations Act for an eligible company in financial distress, which involves a registered restructuring practitioner and may require insolvency and legal advice.
When may a business restructure be considered?
Businesses evolve over time, leading owners to re-evaluate their legal and operational framework across common commercial triggers:
Business growth and increasing commercial complexity
Bringing in a new owner, partner or investor
An existing owner exiting or succession planning beginning
Moving from sole trader or partnership operations to a company
Changes in asset ownership or how business risk is managed
New financing, contracting or operational requirements
A need to separate different business activities or assets
A review of tax, administration and ongoing compliance requirements
If the main question is which structure should be used before any implementation work begins, see our Business Structure Advice service. Business restructuring services focus on the practical and professional work involved in changing an existing arrangement.
Business Structure AdviceTax implications should be reviewed before the restructure occurs
Transferring assets or business interests from one entity to another can create tax consequences. Depending on the transaction, capital gains tax, income tax, GST and other rules may need to be considered. The fact that the same owners remain involved does not automatically mean the transfer has no tax effect.
Roll-Over Concessions & Statutory Conditions
Some restructures may qualify for a roll-over or other relief where the relevant statutory conditions are met. For example, the small business restructure roll-over may apply to eligible transfers of certain CGT assets, trading stock, revenue assets and depreciating assets as part of a genuine restructure of an ongoing business.
Pre-Transaction Review
Where the immediate need is a pre-transaction review of the tax and accounting consequences before implementation, our Business Restructuring Advice service provides thorough evaluation before binding documents are executed.
GST, state taxes and transaction costs
GST treatment can depend on what is transferred and how the transaction is structured. For example, some transfers may involve taxable supplies, while a sale of a going concern can be GST-free where the applicable requirements are satisfied. Registration status and the specific transaction must be reviewed rather than assuming one GST outcome. State or territory duty may also apply depending on the assets, transaction and jurisdiction, and legal documents, valuations or lender consent may be required separately.
Registrations and practical implementation
Changing legal structure can also change registrations. When a business moves to a different entity, the new entity generally requires its own ABN. An ABN cannot be transferred from one entity to another. Business names may need to be transferred or re-registered, and GST, PAYG withholding and other registrations may need to be added, updated or cancelled at the correct time.
If the restructure requires a new company, our Company Registration service covers the company-registration component. The restructure itself remains broader because it also involves the transition from the old arrangement to the new one.
How a business restructure accountant can help
A business restructure accountant helps connect the proposed commercial change with its tax and accounting consequences. Within the agreed accounting and tax scope, Financially Up may assist with:
Structure Evaluation
Reviewing the existing structure and proposed destination structure.
Asset & Liability Analysis
Identifying assets, liabilities, loans and balances that may need to move or be dealt with.
Concession & Roll-Over Review
Considering tax consequences and whether relevant roll-overs or concessions may need detailed review.
Registrations Support
Assisting with company, ABN and tax registrations within the agreed scope.
Opening Balances & General Ledger
Planning opening balances and accounting records for the new entity.
Operational Systems Alignment
Coordinating bookkeeping, GST, payroll or other systems where operations are moving.
Reconciliation & Migration Data
Preparing or reconciling accounting information needed for the transition.
Professional Scope Boundaries
Identifying matters that require legal, finance or other specialist advice.
After implementation, ongoing obligations remain important. Our Business Tax Compliance service covers continuing tax-compliance work rather than the one-off restructure process.
A practical restructure process
A structured three-stage methodology ensures transitions occur in proper order without uncoordinated tax or registration surprises:
Map the current and proposed arrangements
Confirm the commercial objective, the existing entities, ownership, assets, liabilities and registrations, then map what will exist after the change.
Review tax, accounting and legal consequences before implementation
Review the tax and accounting implications, GST and state-tax issues, affected contracts, financing requirements and the legal documents that may be needed. Legal advice, drafting, valuations and lending approvals may require appropriately qualified professionals under separate scopes.
Implement and reconcile the new structure
Set up the required entities and registrations within the agreed scope, coordinate the sequence of accounting and registration steps, establish accounting records and reconcile opening balances before old registrations are closed. Asset transfers, legal documents, finance changes and other specialist implementation work may require separate professional assistance.
What information may be needed?
The exact documents depend on the restructure. To understand the starting point and proposed change, we may ask for:
Current entity and ownership details
Recent financial statements, tax returns and activity statements
Asset registers and details of significant business assets
Loan, finance and shareholder or partner balance information
Company, trust or partnership documents where relevant
ABN, GST, PAYG and other registration details
Key contracts, leases, licenses or permits that may be affected
Information about employees and payroll if the employing entity may change
Details of the intended ownership and operating structure after the restructure
Why choose Financially Up?
Financially Up Pty Ltd is a registered tax agent with more than 10 years of experience across taxation, accounting, bookkeeping and business advisory services. Our professional team includes CPA and IPA members, and we support clients across Australia through online and in-person appointments.
Registered Tax Agent
Financially Up Pty Ltd brings over a decade of verified taxation, structural advisory, and business transition experience.
CPA & IPA Members
Our senior accounting team holds formal CPA Australia and IPA professional qualifications.
Australia-Wide Support
Online remote appointments across all Australian states alongside face-to-face consultations at our North Sydney office.
Integrated Transition Scope
From tax consequences and opening balance journals to entity registrations, we coordinate the full practical accounting scope.
Frequently Asked Questions
Answers to common questions about restructuring Australian business entities, tax roll-overs, and registrations.
Identifying eligible deductions is crucial for minimizing your taxable income and maximizing your tax savings. Our team at Financially Upwill diligently explore all potential deductions applicable to your situation. From commonly claimed deductions to often overlooked ones, we leave no stone unturned in helping you claim every deduction you're entitled to.