2020

Restructuring and CGT Roll-overs: Tips for advisors

Source: Victoria

Published Date: 25 Sep 2020

 
To survive in the current challenging economic landscape many business owners may be considering a restructure, a merger or demerger. In such situations, we as tax advisors turn to the capital gains tax (CGT) roll-over rules contained in the Income Tax Assessment Act 1997 (Act). The provisions provide taxpayers with the ability to disregard or defer certain capital gains or capital losses that arise from the disposal of CGT assets when restructuring. However these provisions are an area with great complexity and one which the ATO is keeping a keen eye on. This session covered:
  • roll-overs Relief 101: A quick refresher on what's available
  • Hart v FCT [2019] FCAFC 179 and the danger lurking in back to back roll-overs
  • accessing demerger relief in light of the recently finalised TD 2020/6
  • triggering stamp duty liabilities
  • consideration of anti-avoidance provisions
  • the future of roll-overs in light of the ATO and Tax Practitioner's Board reviews.

Details

  • Published On:25 Sep 2020
  • Took place at:Online

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research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

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.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons 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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