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Questions & Answers: Division 43 and section 262A (4AJA) notice requirements for capital allowances


Practitioners are often called upon by clients to advise on the tax implications of buying and selling property that has been, or is intended to be, used to produce assessable income. Obviously, consideration of holding structures and capital gains tax issues will be at the forefront of both clients and practitioners minds in the pre-sale/pre-purchase due diligence process, but what about the capital works deduction provisions in Div 43 of the Income Tax Assessment Act 1997?

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Michael Parker CTA
Photo of author, Michael PARKER Michael Parker, CTA, is a Partner in the Taxation section of Hall & Wilcox Lawyers. His practice focuses on tax disputes, domestic income tax issues, including CGT and Div 7A, business sales, acquisitions and restructures and GST. Michael has extensive experience handling a broad range of taxpayer disputes, including disputes concerning the small business CGT concessions, having acted for the taxpayers in White v FCT [2009] FCA 880, White v FCT [2012] FCA 109 and Altnot v FCT [2013] AATA 140, among other cases. Michael regularly consults to the Board of Taxation and Treasury, including in respect of Div 7A, small business impediments and the small business CGT concessions. He is a regular presenter for The Tax Institute. - Current at 31 October 2019
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