This webinar, the eight in our back to basic series looking at the fundamentals of Australian tax, explores how Capital Gains Tax (CGT) works.
Using practical examples, case studies, sample calculations and clear language, we will explore why CGT exists, how it works and when it applies. We will illustrate how a typical CGT calculation is done and will examine the many special rules, such as concessions and exemptions, which can apply.
Amongst the topics to be covered:
• What is CGT?
• CGT events
• Cost base rules
• How to calculate a capital gain
• Indexation and the CGT discount
• Special rules for small businesses
• Applying CGT to the family home
• CGT for investors
• CGT for partnerships, trusts and companies
• Record keeping
Webinar Learning Outcomes:
Attendees will gain an understanding of when CGT may be an issue for clients, how to calculate a capital gain, as well as an understanding of when CGT can be mitigated by taking advantage of the many exemptions and concessions. Following the webinar, attendees will be able to assist clients both with compliance issues (such as calculating a gain) as well as advising on possible planning opportunities to minimise exposure to CGT.
This series of introductory webinars is ideal for those starting a career in tax who wish to understand the fundamentals of the Australian tax system. It is also ideal for accountants in non-tax roles who want a high level overview of how the tax system works, as well as other professionals who might need to understand how tax could impact their clients, such as financial planners and legal professionals.
Since 2015, Mark Chapman has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director. Mark is also the author of Life and Taxes: A Look At Life Through Tax published by Wolters Kluwer, CCH Australia.
Mark has over 25 year’s experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
You will be provided with:
• PowerPoint Presentation slide deck
• Any Supporting Documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
Understanding how Capital Gains Tax works.