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New CGT exposures and exemptions for non-residents paper

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
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 11 March 2009
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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 23 August 2016
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This was presented at Queensland State Convention: Reach for the Stars .

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