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Q&A: IP, IT & a byte: The Tax Bite On Intellectual Property

Published on 01 May 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Intellectual property is increasingly representing the value underlying a business. The notion that the value of a business simply comprises plant and equipment, land and buildings, and goodwill as the balancing item, are long gone. We need to recognise that goodwill is separate from the underlying intangibles and value must be separately attributed to intellectual property... and not just the notional $1 as often appears in contracts.

Author profile

Andrew O'Bryan CTA
Andrew is a Partner at Hall & Wilcox Lawyers and provides advice on the application of a wide range of taxation. He has substantial knowledge of taxation and commercial practice and advises his clients on income tax, capital gains tax, tax audits and reviews, fringe benefits tax, business structuring and transactions, liquidations and reconstructions, superannuation, retirement planning, business succession, estate planning, and philanthropy. Andrew advises accounting and legal firms on their clients’ affairs. He also draws clients from industry, commerce and high-net-worth private family groups. One of his main interests is advising private business owners on the transition of management and control of family businesses to the next generation. Andrew has been recognised in the The Best Lawyers in Australia in Tax Law every year since 2014 and is a leading tax lawyer in Victoria in Doyle's Guide to the Australian Legal Profession. - Current at 12 November 2019
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