CGT & Property Online Workshop 2023 Session 1
Recorded 16 October 2023. An in-depth guide to the key CGT issues that relate to property transactions.
CGT calculations, options, earnouts and more
Applying the CGT discount and main residence exemption in practice
Accessing the small business CGT concessions and other rollovers
Recorded 16 October 2023
The CGT rules can seem straightforward until you start dealing with a specific client issue in real life. As property transactions often involve significant dollar amounts it is crucial for accountants to have a solid process for dealing with the CGT system. This online series delivers what every accountant needs to know about guiding clients through the CGT minefield in a range of practical scenarios.
The CGT & Property Online Workshop takes you step by step through:
- How to calculate capital gains and losses from property transactions
- Determining which CGT event is most relevant and when the capital gain or loss needs to be recognised
- The concessions and exemptions that might be available to clients who make capital gains on the sale of property
- How to maximise client outcomes
- Identifying potential problem areas and the options for resolving them
The management of CGT issues is often a high stakes area, especially when properties are involved. Ensure your team has the knowledge to identify the issues and the process to deliver the best possible results for clients.
Total 2 CPD Hours
The fundamental issues that need to be addressed when clients are involved in property transactions. Just because these issues are fundamental, doesn’t necessarily mean that they are easy to work through in practice.
We look at:
- Confirming whether property transactions will be dealt with on capital or revenue account, we look at the ATO's latest guidance in this area
- The CGT events that are most relevant to property transactions and how to identify the most specific event
- When the market value substitution rules do and don’t apply
- Dealing with option arrangements
- How to determine when a capital gain or loss should be reported to the ATO and dealing with delays between contract date and settlement date
- Cost base calculations and the adjustments that need to be considered
- Dealing with subdivided property
- The process for dealing with the sale of rental properties
- Managing instalment arrangements
- Understanding the look-through rules for earnout arrangements
with Michael Carruthers
Michael Carruthers
Tax Director, Knowledge Shop
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a long-term member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
CGT & Property Online Workshop 2023 Session 1
Tax & Accounting
2 hours | 4 modules
Investment per person: $ 453.64 + GST
Team cost: $ 1,136.36 + GST
You can’t use team rate, please either signup or login to access team rates
CPD Hours: 2 hrs
FS
SMSF
Tax Accounting
General