Mcphee Lawyers

Tag Archives: Capital Gains Tax

News Flash: Variation to foreign residence CGT withholding tax

by On 15 July 2016, I wrote a blog on the then new 10% CGT withholding tax which came into effect on 1 July 2016 by virtue of the Tax Superannuation Laws Amendment (2015) Measures (No. 6) Act 2016. The Act intended to assist the Australian Taxation Office (ATO) in the collection of foreign investors’ Australian tax liabilities arising from the
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Beware: The new 10% CGT withholding tax

by On 1 July 2016, the Tax and Superannuation Laws Amendment (2015 Measures No. 6) Act 2016 came into effect. The Act is intended to assist the Australian Taxation Office (ATO) in the collection of foreign investors' Australian tax liabilities arising from the sale of real property with a market value of two million dollars ($2,000,000) or more being:- land, buildings, residential properties
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Relationship + Separation + Property + Handshake Agreement = Not Legally Binding? – Part 2

by Part 2 of our 2 part series on legally binding de facto and matrimonial property matters:- Considering Binding Financial Agreements Last week, we reminded you that if you want to fully and finally resolve matrimonial or de facto property matters, you need to formalise your agreement by way of Consent Orders or a Binding Financial Agreement. So what is a Binding Financial
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Relationship + Separation + Property + Handshake Agreement = Not Legally Binding? – Part 1

by Part 1 of our 2 part series on legally binding de facto and matrimonial property matters:- Considering Consent Orders     You need a Court Order or Binding Financial Agreement to have a legally effective property settlement. It is important to formalise the agreement reached with respect to the distribution of property (matrimonial or de facto). A document either handwritten or typed
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Investment Properties – Capital Gains Tax and Family Law

Investment Properties – Capital Gains Tax and Family Law

by An investment property can form part of a property pool in a family law dispute. Such properties are held in the names of one or both of the parties, with relatives, or in the name of a corporate entity. If the property was acquired after 19 September 1985, a transfer of the property will generally be a Capital Gains Tax
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