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Restructuring and CGT Roll-overs: Tips for advisors

Published on 25 Sep 2020 | Took place at Online, VIC

To survive in the current challenging economic landscape many business owners may be considering a restructure, a merger or demerger. In such situations, we as tax advisors turn to the capital gains tax (CGT) roll-over rules contained in the Income Tax Assessment Act 1997 (Act). The provisions provide taxpayers with the ability to disregard or defer certain capital gains or capital losses that arise from the disposal of CGT assets when restructuring. However these provisions are an area with great complexity and one which the ATO is keeping a keen eye on. This session covered:

  • roll-overs Relief 101: A quick refresher on what’s available
  • Hart v FCT [2019] FCAFC 179 and the danger lurking in back to back roll-overs
  • accessing demerger relief in light of the recently finalised TD 2020/6
  • triggering stamp duty liabilities
  • consideration of anti-avoidance provisions
  • the future of roll-overs in light of the ATO and Tax Practitioner’s Board reviews.

Individual sessions

Restructuring with CGT roll-overs: Tips for advisors

Author(s):  Neil Brydges,  Laura Spencer

This paper covers:

  • roll-overs 101
  • practical measures to manage task risk
  • Hart v FCT [2019] FCAFC 179 and the danger lurking in back to back roll-overs
  • accessing demerger relief in light of TD 2020/6
  • beware of triggering state tax liabilities
  • casting the net: anti-avoidance provisions
  • looking to the future: ATO and Board of Taxation’s Reviews.
Materials from this session: