CGT & Property Online Workshop 2023 Session 3
Recorded 30 October 2023. Small business CGT concessions and other CGT concessions 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 30 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 1.75 CPD Hours
In this session we look at the application of the small business CGT concessions and other CGT concessions to property transactions. The CGT outcome can depend on who owns the property, how it has been used and what triggers the CGT event.
We look at:
- Determining whether a property is an active asset
- Dealing with mixed use properties
- Options for extracting tax-free gains from a company or trust after applying the small business CGT concessions
- The special rules that apply to spouses and how this can make the difference between accessing the concessions and missing out
- How different share classes can make life difficult and what can be done about it
- The conditions that must be met to qualify for the small business restructure rollover relief
- Applying the ultimate ownership rules to situations involving discretionary trusts
- Concessions that can apply to properties that have been compulsorily acquired or destroyed
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 3
Tax & Accounting
1.75 hours | 5 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: 1.75 hrs
FS
SMSF
Tax Accounting
General