Capital Gains Tax
Value Shifting
9 April 2024
Although not strictly a CGT provision, the value shifting provisions of the tax law have important implications for capital gains and losses. All accountants should be aware of these provisions and pay particular attention to them whenever equity is issued in an entity. The video covers both direct value shifting and indirect value shifting. 60 minutes.
Marriage and Relationship Breakdown
9 February 2024
The CGT law contains a number of provisions that can assist clients when there is a marriage or relationship breakdown. This video covers [1] The basics of the CGT rollover [2] Practical issues concerning the rollover [3] Main residence implications [4] The CGT exemption for payouts in relationship breakdowns. 55 minutes.
CGT Rollovers for Restructuring [3]
5 September 2023
This is the 3rd of 3 videos in a 3-part series on CGT rollovers for restructuring. This video discusses [1] Unit trust to a company rollover 124-N [2] Small business restructure rollover. 67 minutes.
CGT Rollovers for Restructuring [2]
30 August 2023
This is the 2nd of 3 videos in a 3-part series on CGT rollovers for restructuring. This video discusses [1] Division 615 rollover [2] Scrip for scrip rollover. 65 minutes.
CGT Rollovers for Restructuring [1]
24 August 2023
This is the 1st of 3 videos in a 3-part series on CGT rollovers for restructuring. This video discusses [1] Individual or trust to company rollover [2] Partnership to company rollover [3] Exchange of shares or units in the same entity [4] Exchange of rights or options [5] Transfer of assets between two unit trusts. 66 minutes.
Goodwill
9 May 2023
Goodwill is a ‘strange beast’ but it is important for accountants to understand various issues that relate to this topic. Is there goodwill, or is what is being referred to as goodwill really something else? When was it first acquired? What are the tax implications of disposal of goodwill? The video discusses the leading case on the topic, Murry and points out the difference in terminology used by lawyers and accountants. This is a very useful video for understanding a variety of issues that concern this CGT asset. 62 minutes.
Small Business CGT Concessions [3]
21 April 2023
This is the 3rd video in a 3-part series on the small business CGT concessions. The series teaches the principles of the concessions using examples. In this video we examine the availability of the concession to the sale of a passive investment owned by a discretionary trust. It demonstrates some of the nuances in the small business CGT concessions where a discretionary trust is the owner of the asset on which the CGT exemption is claimed. Note that the trust in this case study does not conduct a business. 58 minutes.
Small Business CGT Concessions [2]
4 April 2023
This is the 2nd video in a 3-part series on the small business CGT concessions. The series teaches the principles of the concessions using examples. In this video the case study of the 1st video is continued through to the liquidation of the company. We see the tax implications of this. Also, there is an example using the 15-year exemption. 59 minutes.
Small Business CGT Concessions [1]
29 March 2023
This is the 1st video in a 3-part series on the small business CGT concessions. The series teaches the principles of the concessions using examples. In this video there is one case study that looks over the life-cycle of a business owned in a company until it is eventually sold to a public company. There is a majority and minority owner in the business. 69 minutes.
Main Residence Exemption [4]
7 December 2022
This is the 4th video in a 4-part series on this important topic. This video mainly deals with issues relating to the death of the owner of a main residence. It covers [1] The cost base special rules [2] Special rule for a surviving joint tenant [3] Full exemption following death [4] The ‘further period’ allowed to sell a main residence [5] The partial exemption [6] Trustee acquiring a dwelling under a will. 64 minutes.
Main Residence Exemption [3]
29 November 2022
This is the 3rd video in a 4-part series on this important topic. This video covers [1] Spouses with two main residences [2] Relationship breakdowns [3] Dependant child having a different main residence [4] Absence due to compulsory acquisition [5] The partial CGT exemption [6] Special rule for first use to produce income. 52 minutes.
Main Residence Exemption [2]
23 November 2022
This is the 2nd video in a 4-part series on this important topic. This video covers [1] Moving into a dwelling [2] Changing main residences[3] Absences from the main residence [4] Absence due to compulsory acquisition [5] The build, repair or renovate concession [6] Destruction of a dwelling and sale of land. 64 minutes.
Main Residence Exemption [1]
1 November 2022
The CGT issues concerning the disposal of a main residence arise frequently in public practice. This is the first video in a 4-part series on this important topic. This video covers [1] The basic operative provision [2] Meaning of a dwelling and a main residence [3] Ownership interest and ownership period [4] Adjacent land and structures [5] Foreign and temporary residents [6] Special disability trusts [7] Granny flats. 56 minutes.
Small Business Restructure Rollover
13 May 2022
All accountants need to be well versed in the small business restructure rollover provisions. These provisions enable ‘internal’ restructures in ways that are not permitted by the normal CGT rollovers. However, there are problematic issues with these provisions that accountants must be wary of. 61 minutes.