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CGT & Property Online Workshop 2023 Session 2

Recorded 23 October 2023. CGT discount and main residence exemption.

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 23 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

Session 2

We look specifically at the CGT discount and main residence exemption in this session. While applying these concessions can sometimes be a straightforward exercise, the position can become very complex very quickly.

We look at:

Situations when clients might miss out on the CGT discount and when clients might choose not to apply the discount
Applying the CGT discount and main residence exemption to properties located overseas
Determining the impact that a client’s residency status can have on the CGT outcome
Common situations which prevent clients from accessing a full exemption under the main residence rules
How to apply the 6 month overlap rule and 6 year absence rule
The impact of using a property to earn income, including for short term rental purposes
How to work through the rules dealing with dwellings that are being constructed or renovated
When clients are treated as if they have reacquired their property for CGT purposes and the impact that this has on tax calculations
Working through the special rules that apply to inherited properties

with Rae Ni Corraidh

Rae Ni Corraidh

Tax Adviser, Knowledge Shop

Rae is an experienced tax advisor and trainer focused on helping practitioners apply complex tax rules to real life scenarios. She has a genuine passion for helping practitioners find a solution to the tax problems that their clients face (and sometimes unwittingly cause).

She understands the challenges faced by practitioners and brings a wealth of practical experience to Knowledge Shop workshops and webinars to ensure participants walk away with the knowledge and tools they need to help their clients navigate the technical issues they are facing.

Rae holds a Masters in Commerce specialising in tax and has over 20 years tax experience in professional services firms, ten in Big 4 firms both in Australia and internationally and has held management positions in mid-tier firms.