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Non-residents and capital gains paper

Published on 18 Sep 13 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper covers key developments and things to watch out for including:

  • an overview of the operation of Div 855
  • changes to the ''principal asset'' test in Subdiv 855-A
  • removal of discount for non-resident individuals
  • introduction of a 10% non-final withholding tax to the disposal by foreign residents of certain taxable Australian property
  • other methods of recovery of alleged tax
  • likely impact of the decision in Resource Capital Fund
  • implications of upstream non-Australian transfers changing the underlying indirect ownership
  • the impact of landowner stamp duty regimes.

Author profiles:

Antony Barrier FTI
Antony is a lawyer with Norton & Smailes Tax Lawyers. Current at 30 April 2015 Click here to expand/collapse more articles by Antony BARRIER.
 
Shane Tan
Shane is a special counsel at Clayton Utz specialising in property finance, structured finance and stamp duty advice. He has advised on the stamp duty aspects relating to various major acquisitions, corporate reorganisations and sale of businesses. Shane has also been involved in various property and general finance transactions. In particular, he has worked on various major structured property / construction matters. Current at 07 August 2013

Philip Bisset CTA
Philip Bisset is a taxation partner at Clayton Utz. He has over 27 years’ experience in many facets of revenue law and commercial taxation, practising as a lawyer, chartered accountant and corporate tax manager. He has significant experience in managing audit and tax disputes and in negotiating settlements to successful outcomes. Philip also helps his clients develop robust tax policies and risk guidelines to minimise the potential reputational and commercial threats to their organisations in connection with tax audits and disputes. Philip is the instructing solicitor for a number of cases currently before the Federal Court. Current at 23 August 2016 Click here to expand/collapse more articles by Philip BISSET.

Mark Friezer CTA
Mark Friezer is a taxation partner at Clayton Utz. He advises on income tax law, focusing on finance, corporate tax and international tax. He has an extensive understanding of business tax reform from his participation in various government consolidation committees. Mark is the 2013 National Chairman of the Law Council of Australia Tax Committee and also a member of the National Tax Liaison Group (NTLG), and is on the Advisory Panel for the Board of Taxation. Current at 16 July 2013 Click here to expand/collapse more articles by Mark FRIEZER.

This was presented at International Masterclass.

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Individual sessions


Legislative changes to the transfer pricing rules - The practical implications

Author(s):  Tony Gorgas

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