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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.
Cameron practices in corporate and international tax at Allens Arthur Robinson. Cameron’s practice currently
encompasses corporate restructures and acquisitions (including in the mining sector), consolidation, taxation of financial
arrangements and foreign currency transactions, taxation of intellectual property, and international transfer pricing. Cameron has
returned as a Tax Partner at Allens Arthur Robinson after a period as Professor of Taxation Law at the University of Melbourne. Current at 9 February 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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