What tax adjustments are now required when my client sells a commercial building, a vineyard or an item of intellectual property? What balancing adjustments now exist?
This convention paper provides a much needed practical review of the issues emerging out of transactional work in this area including:
- sale & restructure of depreciating assets
- land & buildings acquisitions and sales: interaction of capital works deductions & CGT
- who is the holder of land improvements?
- vineyard establishment expenditure and other primary production write offs
- intellectual property
- balancing adjustment rollovers and tax planning associated with sale of depreciating assets
- implications to buyers.