Published on 13 Mar 09
by NATIONAL DIVISION, THE TAX INSTITUTE
Today, intangibles lurk below the surface of the basic financial statements of a business but often hold the real value. The tax treatment for owners, buyers and sellers can vary widely. You may think you’re selling “goodwill”, which will be completely free of tax because of the CGT concessions. What if the valuable asset is in fact copyright, which is not in the CGT regime? So it pays to explore and identify the true legal nature of intangibles and their commercial value, particularly in related party transactions or internal restructures.This presentation covers:
distinguishing intellectual property from other intangibles
which intangibles hold the real value?
intangibles covered by the CGT regime
intangibles covered by the Div 40 UCA regime
commercialising or selling: what should the contracts say?
Andrew O’Bryan FTIA is the Head of Taxation, Superannuation, and Family Business and Wealth
Management Practice Groups at Hall and Wilcox. Andrew provides advice on the application of a wide
range of taxation matters including income tax, FBT, CGT, tax audits, structuring and restructuring of
business and transactions, superannuation, state equivalent tax regimes, retirement planning, business
succession, estate planning, liquidations and reconstructions, and corporatisation and privatisation. Current at 11 March 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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