A look at the small business CGT concessions and other small business rollovers through a series of comprehensive, practical, worked examples.
Drawing on material from the newly published second edition of Australian Practical Tax Examples, this webinar, will examine key tax concepts surrounding the small business CGT concessions by working through examples taken from the book, explaining how tax law and administrative practice applies to real life situations, and how that can translate into a tax outcome for your clients.
Examples are deliberately framed to reflect real life client situations and issues that you might encounter on a daily basis, as well as some of the more complex and unusual outcomes that can apply.
During the webinar, you will be guided through practical worked examples illustrating the following tax topics:
• Satisfying the basic conditions for the CGT concessions
• An overview of the CGT small business concessions and how they can be applied to a business disposal scenario, including the order to apply them to get an optimal tax outcome
• The meaning of active and excluded assets
• Applying the small business CGT rollover and small business restructure rollover to the restructure of an existing business
• How new rules affecting the application of the concessions to sales of shares and units work in practice
Webinar Learning Outcomes:
Participants will gain an understanding of how the small business CGT concessions work, both in theory and when applied to common client situations, as explored through our practical worked examples. The knowledge gained can then be taken back to the office to be applied to your present and future clients. The session will include examples highlighting recent changes to the law in this space, with particular emphasis on sales of shares and units and business restructures.
The webinar provides an introductory and intermediate level of knowledge ideal for the development of staff within tax agent and accounting practices who act for small businesses and individuals with interests in small businesses. The webinar is also ideal for others requiring an overview of the tax rules around the CGT concessions, including small business owners themselves.
Mark Chapman is the author of Life and Taxes: A Look At Life Through Tax published by Wolters Kluwer in July 2017. He has over 25 years’ experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a member of the Institute of Chartered Accountants in England and Wales, the Chartered Institute of Taxation and is a fellow of CPA Australia. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark 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 Australian in 2007 to join the Australian Taxation Office (ATO) as a senior director.
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