Miscellaneous 2005

Key commercial and revenue law issues seminar

Source: Western Australia

Published Date: 3 Feb 2005

 

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This paper covers the following topics:

  • Does the cash basis of income recognition apply equally to unincorporated and incorporated entities?
  • Is there an advantage of changing the basis of income recognition when converting the business structure of a professional practice?
  • Has recent case law developments changed the interpretation principles established in Carden's and Henderson's case?
  • What is and who owns goodwill of a professional practice?
  • Are the general valuation principles that are applicable to trading businesses and shares equally applicable to professional practices?
  • Is there a need in the future for service trust entities in the conduct and structure of professional practices?
  • How is work in progress treated on an ongoing basis and on conversion to an incorporated professional practice?
  • Are the GST attributes of conducting the professional practice through a corporation the same as conducting it through an unincorporated form?
  • What CGT relief is available to incorporating an individual or partnership professional practice?
  • Can the act of incorporation attract the provisions of Part IVA? Can the PSI rules apply to incorporated professional practices?

Individual Session

Key commercial and revenue law issues

Author(s): Orlando J Fernandes

Details

  • Published By: Orlando J Fernandes
  • Published On:3 Feb 2005
  • Took place at:City West Function Centre, West Perth

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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