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Using contract law to manage capital gains tax exposures paper

Published on 03 Mar 10 by NATIONAL DIVISION, THE TAX INSTITUTE

Tax is levied on capital proceeds from CGT events as defined by tax law; but the when, which and what of the CGT event is often a matter of contract law rather than tax law. Contract law determines the time and identity of the event, and the value of the capital proceeds. This paper considers:

  • using contracts to determine timing of disposals
  • using earn-out contracts to defer receipt of capital proceeds
  • using contracts to choose the relevant CGT event
  • amendments, novations and assignments of contracts.

Author profile:

Author Photo - Cameron Rider FTI
Cameron Rider FTI
Cameron is a Partner at PwC, practising in tax controversy and corporate tax. He was a Professor of Taxation Law at the Melbourne University Law School, and still teaches a course on Mineral and Petroleum Tax. Current at 12 February 2016 Click here to expand/collapse more articles by Cameron RIDER.
 

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