Surprises and shocks when applying Division 152
For a couple, an investment property cannot be an active asset, but for a company it can!
Stream this recording multiple times at your convenience.
- $180.00 incl. GST
- PD hours: 1
The CGT small business concessions are one of the most technically complex provisions in Australian tax law. Yet they predominantly apply to clients that cannot afford to spend tens of thousands of dollars on tax advice.
For many clients the first thought of how the CGT small business concessions will be applied is when it comes time to sell out. Often we find that for reasons which were never previously raised, they may not be eligible for any of the concessions. Or, they can obtain some relief, but the result could have been significantly better had something minor been done previously.
This webinar will examine difficult and intricate aspects of Div 152, using case studies and reported decisions, including:
• Using restructures or rollovers to create ideal facts for the concessions to apply in the future;
• How a vacant block of land does not have a personal use, but taking the family camping on it may result in a different analysis;
• The dangers of offset bank accounts; and
• How sale price may not be market value.
Importantly, attendees will be expected to have a solid working knowledge of the basic conditions in Sub-div 152-A that are required to be satisfied in order to access the CGT Small Business Concessions.
Webinar Learning Outcomes:
This webinar will examine some of the quirks and inconsistencies that can arise when it comes time to apply Div 152 and provide opportunities to suggest changes to clients that may pay significant dividends when selling out in the future.
Attendees will learn issues and facts that can be canvassed now that may benefit small business owners to deal with in order to optimize future applications of the CGT small business concessions.
Accountants, planners and lawyers from intermediate to senior levels.
Clifford Hughes is an IFX Legal Independent Adviser and Principal at Clifford Hughes & Associates. He is a member of the CCH Q&A Advisory Panel and consults to legal, accounting and planning practices around Australia on revenue, structuring and succession issues for their SME and high wealth clients.
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
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