The CGT changing residence concession - the detail can bite.
08 Dec 06 |
WEEKLY TAX BULLETIN
Issue: No. 51 2006
The generous nature of the various concessions that surround the operation of the CGT main residence exemption can be quite deceiving. They can lead to a taxpayer to believe that the concession can be applied as "of right" without proper regard to the conditions that must be met before their application and the specific rules that apply to their use. The concession for "changing main residences" is no exemption.
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Lachlan is the Global Head of Indirect Tax for KPMG, as well as leading the Indirect Tax and Tax Technology practices for KPMG China. As part of his role in KPMG China, Lachlan led KPMG China’s efforts in relation to the VAT reform pilot program in China, including providing advice to various Government agencies in relation to several key aspects of the VAT reforms, including the application of VAT to financial services, insurance, construction and real estate, transfers of a business, as well as other reforms relating to the introduction of Advance Rulings in China. Previously he was a partner of KPMG Australia for over 11 years as the head of Indirect Tax in Sydney, and the National head of Tax Controversy services for KPMG Tax Lawyers Pty Ltd. Lachlan is also formerly a Director of the Tax Institute.
- Current at
30 September 2019