Published on 01 Jun 11
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The capital gains tax provisions are a key feature of our tax system and seem to take up an extraordinary amount of most tax professionals' daily lives. At the time of writing, there are 53 separate CGT events which potentially lead to a tax liability. There are also many concessions, roll-overs, exceptions, exemptions, rules and modifications which have to be taken into account.
This article considers some CGT events which raise issues that tax advisers must be aware of, but which, for a variety of reasons, do not seem to get the exposure that the more popular CGT events receive. The article also covers issues relating to the CGT roll-over provisions, including the latest roll-over, Subdiv 124-R relating to water entitlements, and points out some "traps and tips" to be aware of when deciding which roll-over to use and how to use it.
Paul is a partner in the
Thomson Geer Tax Section and has a
broad range of experience in providing
specialist taxation and commercial
advice to a wide variety of clients. His
broad base of clients includes legal
and accounting firms, private and listed
companies, high net worth individuals,
and private equity funds. Paul advises
on all areas of Federal and State taxation
law and related commercial matters.
Paul is a regular speaker on tax and
related commercial matters for various
professional bodies. He is a member
of The Tax Institute, a member of the
Law Council of Australia’s Business Law
Committee (South Australian Tax Sub
Committee), and a member of the South
Australian State Taxes Liaison Group.
- Current at
06 November 2019