Published on 18 Oct 03
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
The General Value Shifting Regime is an enormously complex piece of legislation with important consequences for all
taxpayers. Failing to consider the provisions can result in your client inadvertently triggering capital gains, either
immediately or in the longer term. These case studies cover the following issues, with the use of practical examples:
- application of provisions - direct value shifting, indirect value shifting and exemptions (eg. reversal rule, threshold)
- consequences of application - crystallizing capital gains, adjustable values (cost bases), and denial of losses.