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New CGT exposures and exemptions for non-residents paper


The Government has introduced new provisions to first narrow the focus of CGT for non-residents to Australian real property and permanent establishment assets and secondly introduce a rigorous “land rich” type mechanism that looks through interposed entities. This paper considers:

  • which taxpayers will benefit?
  • how this particular “land-rich” tracing mechanism operates
  • structuring implications
  • tax treaty interactions, i.e. whether Australia has the right to impose this new tax impost
  • assets held through trusts.
This paper was also presented on 3 August 2007 by Ken Spence at the Queensland State Convention in Surfers Paradise.

Author profiles:

Richard Shaddick FTI
Richard is a Director in the Melbourne office of Greenwoods & Freehills. He has specialise in international taxation for many years, especially (since 1990) in the Australian taxation of controlled foreign companies (CFCs). Apart from advising private sector clients in this area, Richard also serves on the Rulings Panel of the Australian Taxation Office, and has consulted extensively with the Treasury Department on the redesign of the CFC legislation. Current at 01 July 2010 Click here to expand/collapse more articles by Richard SHADDICK.
Kenneth Spence CTA-Life
Ken is a Special Counsel in the Melbourne office of Greenwoods & Herbert Smith Freehills. He has been closely involved for many years in advising Australian and foreign-owned listed companies on M&A transactions and has been extensively involved with both clients and tax professional bodies in relation to all aspects of the tax consolidation regime. Ken is a past President of The Tax Institute. Current at 23 August 2016 Click here to expand/collapse more articles by Ken SPENCE.

This was presented at 22nd National Convention: Tackling Tax.

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Individual sessions

New CGT exposures and exemptions for non-residents

Author(s):  Ken SPENCE,  Richard SHADDICK

Materials from this session:

Justice Graham Hill and Australian tax law

Author(s):  Michael KIRBY

Materials from this session:

Getting money out of companies

Author(s):  Michael HINE

Materials from this session:

McNeil and Transurban City Link

Author(s):  David BLOOM

Materials from this session:

Stamp duty and GST issues arising from disposal of property and creation of rights

Author(s):  Peter GREEN

Materials from this session:

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