- Accountants Network
- Private Groups
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Presented by Sean Pearce, this 90 minute tax training session took place in March 2019.
Whether a profit is on capital or revenue account can have material implications for your client, not only whether the CGT discount can be used, but whether other CGT concessions or rollovers can be applied to reduce or disregard the profit. Furthermore, where losses are incurred, revenue losses are effectively worth twice as much as capital losses and can be utilised against all types of income, as distinct from capital losses that are restricted for use against capital gains. This session will deal with the issues to be considered when determining whether a profit, or a loss, made by your client should be treated on either capital or revenue account, focussing not only on the historical case law in Whitfords Beach, but more recent cases such as:
The session will focus on both share and property acquisitions and disposals and will consider the key questions to ask when determining whether the asset is held on capital or revenue account and the actions your client can take to support that position.
**This session will qualify for 1.5 hours Structured CPD/CPE for CPA, CAANZ, IPA and Tax Institute members**
This download contains the following files:
The PowerPoint presentation (Microsoft Office 2010)
The Notes for the case study (PDF)
The solutions for the case study (PDF)
**** Please note that once purchased, a link to the content will be sent to you in a separate email. *****