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Goodwill and Taxation Isssues paper

Published on 23 Nov 07 by THE TAX INSTITUTE

Goodwill is the asset used in business each and everyday and which the expanding enterprise ultimately expects to cash out at a premium (whether by a trade sale, float or management buyout). Tax reduces the value available to the business owners and must be understood and controlled. Confusion often exists between value attributable to goodwill and other assets (generally IP). This paper will deal with:

  • Identifying goodwill - what is it legally?
  • The source of goodwill in intangible assets such as licences, trademark and designs
  • Goodwill - CGT and Division 40
  • The fiction and consequences of goodwill licensing )Just Jeans issues)
  • Franchisee's goodwill and what happens when the franchise ends?
  • Goodwill - know-how and show-how; the differences and CGT consequences 

Author profile

Prof Michael Walpole CTA
Photo of author, Michael WALPOLE Prof Michael Walpole is Head of the School of Taxation and Business Law (including Atax) at UNSW Business School. Prior to academic life, Michael was variously a Tax Consultant with Ernst & Young, and was in private practice as a legal practitioner. Michael has authored and co-authored several books, including Proposals for the Reform of the Taxation of Goodwill, Understanding Taxation Law, and Compliance Cost Control. Michael has also written and presented many papers on his research topics to practitioner and academic audiences in Australia and overseas. He is the editor of the Australian Tax Forum and is an International Research Fellow at the Oxford University Centre for Business Tax in the Said Business School, University of Oxford. He has been a visiting Professor at the OECD’s Centre for Tax Policy and Administration and remains involved in its work on GST/VAT. - Current at 23 January 2018
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This was presented at 15th National Tax Intensive Retreat: Growing Pains - Expanding Family Businesses .

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