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Dealing with pre-CGT assets paper

Published on 20 Sep 05 by VICTORIAN DIVISION, THE TAX INSTITUTE

If the asset is still pre-CGT, does that mean all dealings with it are CGT exempt? This paper considers the impact of the following direct and indirect dealings with pre-CGT assets:

  • creating new interests in pre-CGT assets
  • disposals of pre-CGT shares in companies and units in unit trusts
  • implications of restructures and roll-overs
  • interaction with the CGT SME concessions; and/or impacts of death
  • proper accounting for pre-CGT capital profits reserves (particularly for companies re: liquidations outcomes)
  • restructuring and preserving pre-CGT status - CGT roll-overs (eg. different outcomes under scrip for scrip vs demergers).

Author profile:

John YOUNG
John is a Consulting tax Lawyer.
Current at 4 August 2008.
Click here to expand/collapse more articles by John YOUNG.
 

This was presented at Pre-CGT Status: Australia's Most Precious but Endangered Tax Attribute.

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Individual sessions

Dealing with pre-CGT assets

Author(s):  John YOUNG

Materials from this session:

"What have you got" - is it still a pre-CGT asset?

Author(s):  Keith JAMES

Materials from this session:

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