Published on 24 May 07
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
The changes to capital gains tax for foreign residents narrows the range of assets on which a foreign resident is subject to Australian CGT. This paper covers:
the types of assets on which a foreign resident may be liable to Australian CGT
the circumstances that must exist before an interest held by a foreign resident in those assets will come within Australia’s CGT regime
the integrity measures introduced to ensure that CGT will nonetheless apply to certain non-portfolio interests in interposed entities
tricks and traps of the new measures.
Vanessa is a Principal in the Tax Division of WHK Horwath and advises clients from both the private sector and mutual associations
on a wide range of taxation issues including CGT, Corporate Acquisitions and Restructures, International Tax Issues, and general taxation consulting. Vanessa is a regular presenter for the Taxation Institute and other professional bodies and is also involved in providing in-house training to accounting firms throughout Australia. Current at 25 September 2007
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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