Published on 15 Apr 11
by QUEENSLAND DIVISION, THE TAX INSTITUTE
This presentation covers:
- not apparent from the ruling
- ATO view on scope of IT2540:
- concession as to fact of market value only
- concession only in context of nil consideration
- concession only for “ebb and flow” of partners
- genesis of TD 2011/D3:
- cut out of omnibus ruling
- representations from law firms/societies/institutes
- “replication” of IT2540.
Mark Molesworth CTA
Mark is a tax partner at BDO and a member of The Tax Institute’s Large Business & International Technical Subcommittee and the Queensland State Technical Committee. He is also a member of the expert advisory panel to the Board of Taxation and The Tax Institute’s representative on the ATO’s Private Groups Stakeholder Group. Mark has many years of experience in advising taxpayers with respect to all areas of taxation, including CGT, FBT and income tax. He also provides taxation advice to other smaller accounting and legal practices in respect of their clients. Current at 04 March 2016
Click here to expand/collapse more articles by Mark MOLESWORTH.
Further details about this event: