Published on 20 Sep 05
by VICTORIAN DIVISION, THE TAX INSTITUTE
Sure, the asset was acquired more than 20 years ago, but is that enough to retain its pre-CGT exempt status?
This can be impacted by:
- an evolving and expanding business from pre-CGT goodwill
- capital improvements to pre-CGT properties and other assets and/or
- changes in underlying ownership of pre-CGT assets owned through interposed entities
- the implications of intervening restructures.
Keith is a partner at Hall & Wilcox, and is a member of the Family Business & Wealth Management and Taxation practice groups. Keith is a key figure in the tax advisory profession. In March 2004 he was appointed to the Board of Taxation. His involvement has extended to Chairman of the Public Accountants Committee, Victorian President, National Councilor, Chairman of the Taxation Centre of Excellence and the National Tax Advisory Committee for CPA Australia. Keith was the accounting profession representative on the Commissioner of Taxation’s Advisory Panel, his National Liaison Committee and the Advisory Committee on the Taxpayers Charter. He was joint Chairman of the working party on the National Review of Standards of the Tax Profession and a member of the steering committee of the Pappas Carter Report reviewing the Australian Taxation Office’s large case audit program.
Current at 20 August 2007
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