Miscellaneous 2005

Goodwill seminar

Published Date: 18 Feb 2005

 

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

Goodwill is still a difficult area when it comes to analysing the CGT and stamp duty consequences to dealings in it. The nature of goodwill has not been fully explained or explored in Murry or other cases.

Specifically, can the assignment of goodwill now be made without any transfer of the sources of goodwill? If goodwill is now to be conveyed only as an asset that inheres in other business assets, which specific business assets and in what proportions, will the goodwill of a business inhere? The revenue law implications are as follows:

  • when does a CGT event happen to goodwill? Which CGT events (other than A1 and B1 and C2) can apply to it, and how does it do so?
  • how does Sub-section 71E(1) of the Stamp Duties Act apply if the conveyance of assets do not carry with them any components of a business?
  • what about personal goodwill? Since that is inherently incapable of conveyance, does any payment for it trigger CGT event D1 or H2?

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced 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.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Miscellaneous 2005

Share this page