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New CGT exposures and exemptions for non-residents paper

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Published on 17 Mar 07 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

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 Shaddick FTIA is a Director of Greenwoods & Freehills in Melbourne. He has extensive experience in international taxation with his primary area of interest being the taxation of controlled foreign companies. Richard is a member of the Public Rulings Panel of the Australian Taxation Office. He is a former State & National Councillor of the Taxation Institute, and a former Australian President of the International Fiscal Association. He represented the Taxation Institute on the Tax Treaties Advisory Panel from 1997-2006. He is an occasional member of the GAAR Panel. - Current at 25 July 2016
Click here to expand/collapse more articles by Richard SHADDICK.
Kenneth Spence CTA-Life
Photo of author, Ken SPENCE 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 25 May 2017
Click here to expand/collapse more articles by Ken SPENCE.

 

This was presented at Queensland State Convention: Reach for the Stars .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Superannuation: the new regime

Author(s):  Allan MCPHERSON

Materials from this session:

Infrastructure taxation: Division 250

Author(s):  Neil WARD

Materials from this session:

International tax and the new CGT exposures

Author(s):  Ken SPENCE,  Richard SHADDICK

Materials from this session:

Property and tax issues

Author(s):  Russell BEER

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The Commissioner's access guidelines

Author(s):  David BLOOM

Materials from this session:

GST: a simple tax in a complex world

Author(s):  Damian WELSHE

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Corporate trusts and trading trusts

Author(s):  Mark MOLESWORTH

Materials from this session:

Small business CGT concessions

Author(s):  Ash CHOTAI

Materials from this session:

Projects in Australia

Author(s):  Michelle BOUTIN,  Shelley WESTBURY

Materials from this session:

Insolvency issues

Author(s):  Craig BOWIE

Materials from this session:

Research and development update

Author(s):  Adrian CARROLL,  Malcolm HALL

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Latest restructuring strategies

Author(s):  Michael CLOUGH,  Daniel SNYDER

Materials from this session:

Doing business with Chindia

Author(s):  Johanna ROCHE,  Qing LI

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The courts, tax and commercial litigation

Author(s):  The Hon. Justice Ian GZELL

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The use of special purpose trusts in estate planning

Author(s):  Matthew BURGESS

Materials from this session:

Recent developments in the taxation of trusts

Author(s):  Mark L ROBERTSON

Materials from this session:

Further details about this event:

 

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