What is CGT event K3? CGT event K3 addresses a situation where a taxpayer becomes deceased and a CGT asset that taxpayer owned passes to a beneficiary of the deceased estate, whereby the...
CGT Event K3
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CGT Articles
CGT Event A1
What is CGT event A1? CGT event A1 addresses a situation where a taxpayer disposes of a CGT asset. A taxpayer disposes of a CGT asset where there is a change of ownership over the CGT asset. ...
CGT Event D1 and C2
CGT event D1 concerns the creation of contractual or other rights in another entity. Conversely, CGT event C2 concerns the cancellation, surrender or ending of a right. The somewhat connected nature...
Forex Tax
Foreign Exchange Gains and Losses A taxpayer may make a windfall gain or loss due to fluctuations in exchange rates between the time the tax law recognises an amount and the time of realisation or...
CGT Event E4
What is CGT Event E4? CGT event E4 establishes a trigger for capital gains tax in a situation where a payment is made by the trustee of a trust to a beneficiary of that trust (in respect of an...
Life interest – Right to reside
The tax consequences of creating a life interest and a right to reside are set out in Taxation Ruling 2006/14. In respect of life interests, it is worth understanding from the outset that there are...
Scrip for Scrip Rollover
The scrip for scrip rollover is designed to enable the exchange of shares in a company or units in a trust for other shares or units without capital gains tax being triggered. The exchange of units...
Small Business Entity
An entity is a small business entity if it: carries on a business, and satisfies the $10 million aggregated turnover test A CGT small business entity is an entity that is a small business entity...
Share Buyback Tax
What is a share buyback? A share buyback involves a company purchasing its own shares from shareholders. The company is thereafter required to cancel those purchased shares. A share buyback is not...