The Resource The income tax and CGT consequences of property disposals
The income tax and CGT consequences of property disposals
Resource Information
The item The income tax and CGT consequences of property disposals represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item The income tax and CGT consequences of property disposals represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- The capital gains tax regime has been in force since late 1985. Nevertheless, it is arguable that tax advisers and tax practitioners have tended to overlook one of the basic principles of the income tax system, namely, the distinction between income and capital, with respect to the characterisation of gains. This article argues that this is particularly the case with respect to gains that have been generated through property transactions, and that there is a need for care with regard to the gains arising from such transactions, even one-off transactions. The author puts forward and analyses four reasons why practitioners need to be careful when advising clients in this area. In particular, it is urged that practitioners should ensure that all relevant evidence as to the intention of the taxpayer is obtained at the time of acquisition of property
- Language
- eng
- Label
- The income tax and CGT consequences of property disposals
- Title
- The income tax and CGT consequences of property disposals
- Language
- eng
- Summary
- The capital gains tax regime has been in force since late 1985. Nevertheless, it is arguable that tax advisers and tax practitioners have tended to overlook one of the basic principles of the income tax system, namely, the distinction between income and capital, with respect to the characterisation of gains. This article argues that this is particularly the case with respect to gains that have been generated through property transactions, and that there is a need for care with regard to the gains arising from such transactions, even one-off transactions. The author puts forward and analyses four reasons why practitioners need to be careful when advising clients in this area. In particular, it is urged that practitioners should ensure that all relevant evidence as to the intention of the taxpayer is obtained at the time of acquisition of property
- Citation source
- In: Taxation in Australia. - Sydney. - Vol. 49 (2014),
- http://library.link/vocab/creatorName
- Blissenden, M
- Language note
- English
- http://library.link/vocab/subjectName
-
- capital gains tax
- income tax
- income classification
- immovable property
- Label
- The income tax and CGT consequences of property disposals
- Label
- The income tax and CGT consequences of property disposals
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/The-income-tax-and-CGT-consequences-of-property/DNLkIetVeZk/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/The-income-tax-and-CGT-consequences-of-property/DNLkIetVeZk/">The income tax and CGT consequences of property disposals</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/The-income-tax-and-CGT-consequences-of-property/DNLkIetVeZk/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/The-income-tax-and-CGT-consequences-of-property/DNLkIetVeZk/">The income tax and CGT consequences of property disposals</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
