It is common for a lessor (landlord) or lessee (tenant) to make special payments to the other in respect of lease arrangements. Examples of these types of payments include: Lease surrender payments...
Taxation of Special Lease Payments
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CGT Articles
Small Business CGT Concessions – Disposal of Shares or Trust Interests
The topic of this article concerns a niche but very commonly questioned aspect of the the small business CGT concessions - the availability of the concessions where there is a disposal or other CGT...
Small Business Restructure Rollover
It is very common for a small business to restructure to facilitate growth or adapt to commercial needs. By ‘restructure’ we refer to the process of changing the legal structure used to operate a...
Buy Sell Agreement – CGT Implications
Owners of a business (including family businesses) can plan for the proper succession of their business on the death or disablement of an owner or controller by entering into “buy/sell” agreements....
Property Development – CGT or Income Tax?
It’s not uncommon for landowners of decent sized blocks to release their land’s potential by subdividing and selling the ‘back yard’ or completely redeveloping land they own. Upon sale, there are a...
CGT Events
IN THIS ARTICLE What is a CGT event? Sale or disposal of asset Loss, theft or destruction of asset All CGT events What is a CGT event? When you sell an asset that is subject to capital gains tax...
Deceased estates and CGT: disposal of dwelling
The ATO has recently updated its practical compliance guideline on how the CGT main residence exemption may apply in cases where a dwelling is disposed either in the capacity of an individual...
Allocating Value to Business Assets
When selling/buying the assets of a business, for CGT and depreciation purposes it is necessary to allocate the consideration received/paid for each of the assets. Due to the differing taxation...
Capital Gains Tax
This article discusses capital gains tax in Australia, including the concept of CGT events and net capitals gains or losses, up to the applicable exemptions.
Allocating Value to Business Assets
When selling/buying the assets of a business, for CGT and depreciation purposes it is necessary to allocate the consideration received/paid for each of the assets. Due to the differing taxation implications for both, the purchaser and vendor may have conflicting...
Capital Gains Tax
This article discusses capital gains tax in Australia, including the concept of CGT events and net capitals gains or losses, up to the applicable exemptions.
Small Business CGT Concessions
This article is a brief overview of the small business capital gains tax (CGT) concessions. The small business CGT concessions can significantly reduce and sometimes eliminate tax payable on the sale of a small business. The concessions are therefore extremely...
CGT Main Residence Exemption
The capital gains tax (CGT) provisions in the Income Tax Assessment Act 1997 (ITAA 1997) do not apply to the disposal of the main residence where certain conditions are met. Generally, this means that where an individual sells the main residence, no CGT is payable...
CGT Earnout Arrangements
Capital Gains Tax (CGT) Earnout arrangements are generally where a business is sold for a set amount plus a percentage of profits in the future for a specified period. The tax treatment of these rights to income in the future has varied over the years. The latest...
CGT on Property Development
IN THIS ARTICLE The revenue/capital distinctionThe consequences of subdivisionMaximising the five cost base elementsThe timing of the gainAccessing the discount and concessions The revenue/capital distinction It is very important to determine...