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Published on 07 Nov 13
by NATIONAL DIVISION, THE TAX INSTITUTE
Accessing the small business CGT concessions remains a challenge. This presentation covers the key areas where most uncertainties and challenges arise for taxpayers. In particular it focuses on:
what is a liability for the purposes of the small business concessions and when does a liability relate to the CGT asset?
various amendments have been made to overcome unintended anomalies, but have the amendments achieved their aim?
dividend access shares post-TA 2012/4 and TD 2013/D5 – where do the pitfalls lie?
how will the small business concessions interact with the proposed changes tothe taxation treatment of earnouts?
incorporation of partnerships – are you shooting yourself in the foot?
lastly, perhaps the most difficult area lies in determining the market value of CGTassets, in light of a raft of recent cases where the Commissioner has challengedthe taxpayer’s valuation of CGT assets.
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