Published on 01 Oct 06
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The CGT Participation Exemption reduces capital gains and losses of an Australian resident holding company on sale of shares in a foreign company conducting an “active” business. This article examines the exemption and, in particular, the tax issues concerning whether assets of a foreign company are “active” in nature.
Philip is a barrister at the Victorian Bar practising in federal and state taxation and superannuation. He acts for both taxpayers and revenue authorities and has appeared in a number of leading cases in these fields. Philip is also the author of Bender’s Australian Stamp Duties, a book published by The Tax Institute dealing with stamp duty in all Australian jurisdictions.
- Current at
26 June 2019