We are excited to announce that from 12 October through to 11 November, we will be hosting our online CGW Tax Masterclass five-part webinar series. Presented by Fletch Heinemann, Sarah Lancaster, Linda Tapiolas, Murray Shume and Caitlin McKenna, the series will cover a handful of topics.
You have the option to register for each webinar individually or register for all five webinars at a discounted rate of $440.00 incl. GST. Join in all five by filling out your details below.
The webinars will be recorded, so, if you are unable to attend at the advertised time, we will send you the live recording for future viewing.
If you have any queries, please don’t hesitate to contact a member of our team or our Marketing & Events Adviser, Ellie Bailey, on +61 7 3231 2918.
Property sale proceeds: capital or revenue account?
12 October 2021
Property prices are on the rise and we are seeing lots of residential subdivisions, farmers selling to developers, broadacre developments and people flipping houses.
It is no surprise that property transactions are a focus for the ATO. While advisers may think that the principles relevant to the revenue/capital distinction are settled, the reality is that taxpayers and the ATO still grapple with whether proceeds from the sale of property are on capital or revenue account.
In this webinar, partner Sarah Lancaster will explore when proceeds from property sales will be on revenue account or capital account, with case studies featuring her Bernese mountain dog, Maple.
Selling the farm? Identify the GST consequences first
19 October 2021
With buoyant property prices, and lots of residential subdivisions, we are seeing plenty of sales of farmland and ex-farmland.
Care needs to be taken to understand the GST consequences, as the GST cost can affect the overall net proceeds for the seller. For a buyer interested in developing the land, they will want to know whether they can apply the GST margin scheme for sales of their developed stock.
In this webinar, partner Fletch Heinemann will take a deep dive into some important GST considerations, with case studies featuring Haibo, the chocolate Labrador.
Cryptocurrency and shares: capital or revenue account?
26 October 2021
As transactions involving cryptocurrency become more mainstream, the ATO has crypto users in its sights. It is now accepted that cryptocurrency is not a ‘currency’ for tax purposes. But as the possible uses of cryptocurrency evolve, taxpayers must grapple with the age-old question – are gains and losses taxable on capital or revenue account? Or are they tax exempt?
Meanwhile, the capital vs revenue dilemma continues to vex taxpayers who hold shares. Following the recent case of Greig v Commissioner of Taxation, where is the line now between the mere realisation of a capital investment and gains and losses on revenue account?
In this webinar, associate Caitlin McKenna will explore when cryptocurrency and share transactions are taxable on capital or revenue account, with case studies featuring dognapped Bernese mountain dog, Maple.
Releasing related party debts: what are the tax and commercial consequences?
4 November 2021
We are seeing the release of related party debts as part of the process of winding up entities or for asset protection purposes. Before releasing debts, it is important that advisers understand whether this will have any adverse tax implications or other flow-on effects.
In this webinar, special counsel Murray Shume will look at the issues that can arise when debts are released, with case studies featuring his sheep dog, Bessie.
Non-assessable amounts: what happens when these are paid out of entities?
11 November 2021
There has been a lot of activity over the past 12 months in relation to property and business asset sales. This has resulted in entities having exempt capital gains representing the general 50% discount, as well as the small business CGT concessions. Entities have also received non assessable amounts in the form of the cash flow boost and other COVID-19 related payments.
Careful consideration is needed when paying these amounts out of entities, as there may be tax implications for the equityholders and beneficiaries.
In this webinar, partner Linda Tapiolas will highlight the traps and tips to consider when paying out non assessable amounts from entities, with case studies featuring her Dobermans , Bossie and Phoebe
CGW tax masterclass webinar series
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