Capital Gains Tax – 31 Years On – The Great Debate.

Day one of the 24th Noosa Tax Intensive kicks off with Capital Gains Tax – 31 Years On – The Great Debate. This panel session will be facilitated by Michael Butler, CTA (Finlaysons) and features a number of experts in the area, including Brian Richards, CTA (Richards Advisory), and Mark Robertson QC, CTA, (Barrister at Law), who here tell us a little more about what to expect from the session.

“It is envisaged that the session will explore the legal developments of the CGT provisions and what that has meant in a practical sense to practitioners. The Panel will discuss where the CGT provisions have been applied in a particular way that perhaps the draftsmen did not originally envisage”, Brian said.

“What is a CGT asset, what is a liability, what is the distinction between pre and post CGT assets, what is the market value of a CGT asset, how do the CGT provisions provide for a sensible and practical treatment of trusts and interests therein will be matters touched on during the discussion. Have the underlying principles of the distinction between revenue and capital being blurred by the use of CGT concessions to provide differential CGT tax treatment of various transactions?”, he continued.

Mark tells us delegates will leave better equipped to help their clients “able to take away an effective historical approach to solving current CGT problems”, while Brian said “In addition to being informative and interesting, the focus of the discussion is intended to draw attention to some of the contentious and practical CGT issues confronting practitioners. Thought provoking notions will set the scene for further discussion during the course of the conference.”

Brian and Mark are joined on the panel by Gordon Cooper, CTA (Cooper & Co.) and the agenda includes the CGT treatment of restrictive covenant payments (Hepples), lease incentives (Cooling, Montgomery), less than arm’s length dealings (AW Furse, Collins), damages and compensation payments (Sydney Refractive Clinic), trust settlements (Oswal, Taras Nominees), and the old “chestnut”, the date of acquisition and disposal of an asset (Sara Lee).

Other highlights from the program include Paul Hockridge, CTA, and David Marschke, CTA, on private company capital management; Simon Steward, QC, FTI, together with ATO Chief Tax Counsel Kirsten Fish, CTA, looking at Part IVA and SME restructures; and perennial favourite Fiona Dillon, CTA, on Div 7A and ATO hotspots.

The 24th Noosa Tax Intensive takes place 10-11 November 2016 at the Sofitel Noosa Pacific Resort. Find out more.http://www.taxinstitute.com.au/professional-development/key-events/noosa-tax-intensive

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