[Paragrah 1105] CGT and non-residents: the saga continues

Dabner, Justin (2008) [Paragrah 1105] CGT and non-residents: the saga continues. CCH Tax Week, 2008 (49).

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[Extract] The application of the capital gains tax ("CGT") to non-residents has always been a vexed issue. The first version of the CGT more or less mirrored the general income tax provisions by applying the CGT to a broad range of what might be termed "Australian source assets" held by non-residents (see the former s 160T of ITAA 1936). However it was soon recognised that, notwithstanding the legislation, non-residents might be able to avail themselves of treaty protection to avoid the CGT. Of course, the pre-CGT tax treaties made no reference to the CGT enabling the Tax Office to (controversially) argue that they, therefore, had no application: Taxation Ruling TR 2001/12.

Item ID: 33539
Item Type: Article (Commentary)
ISSN: 1320-9426
Date Deposited: 30 Jul 2014 06:30
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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