Recorded Webinar: Scope and Limits of Division 128: The CGT Rollover on Death


28th November 2019
Duration:  approx. 1 hour

You've spoken and we've listened. From 1/8/19 we've structured most of our webinars to run for one hour - the ideal length for staff training sessions. And, for most of you the webinars will be held at lunchtime - the ideal time for attending live webinars.
The Division 128 CGT rollover, which provides that any capital gain or loss from a CGT asset held by a deceased immediately before death, seems simple on its face. However, it’s important for advisers to understand just how far it extends – and what it doesn’t apply to. This session walks through the application of Division 128 to the following situations:

  • Asset passing to legal personal representative:

    • what happens when the LPR transfers the asset to a beneficiary?

    • what happens if the LPR sells the asset?

    • asset passing to a testamentary trust – ATO’s administrative practice PS LA 2003/12

  • Asset passing from LPR to beneficiary:

    • effect of Division 128 on CGT asset in beneficiary’s hands

    • beneficiaries not entitled to rollover – exempt entities, complying superannuation funds and foreign entities

    • when does the asset pass?

    • assets bequeathed to beneficiaries as joint owners which are appropriated by individual beneficiaries by agreement?

  • What assets aren’t covered by Division 128?

Recorded Webinars,Taxation,Recorded Webinar:  Scope and Limits of Division 128: The CGT Rollover on Death

Damian O’Connor, Principal, tax + law, Brisbane

Damian is a Tax Lawyer and Chartered Tax Advisor with clients in Melbourne, Brisbane, the Gold Coast, around Australia and overseas.

He has been helping clients with Corporate, Commercial and Tax aspects of their businesses for 18 years, most recently as a tax partner with national law firms, following 23 years with the Australian Taxation Office as an investigator and auditor and in other roles.

Damian has assisted many clients with the tax complications of planning and structuring their business and financial affairs, and has successfully managed taxation audits (including payroll tax and state duty dealings), debt and penalty negotiations, Director Penalty claims, private rulings, objections and tax appeals to the AAT and the Federal Courts.

He has considerable experience working for clients when the going gets tough, and has defended tax prosecutions and managed many contentious, complex, high risk and high stress tax matters, including Project Wickenby raids.

Damian regularly presents seminars on Tax aspects of business transactions, family law, trusts and estates, Division 7A, superannuation and most other areas of tax law for a range of organisations including Television Education Network, Law Institute of Victoria, Queensland Law Society, North Queensland Law Association, the Tax Institute, Griffith University, QUT, Law Central, Australian Corporate Lawyers Association, Australian Stock Reports and Legalwise.


This webinar is suitable for lawyers and accountants throughout Australia who advise in estate planning matters. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email:
Recorded Webinars,Taxation,Recorded Webinar:  Scope and Limits of Division 128: The CGT Rollover on Death

© Television Education Network Pty Ltd 2020

Product Code: WBVNOV19
 Price:  $264.00 (Inclusive of GST)
© 2020 Television Education Network Pty Ltd. All rights reserved. The program for this webinar is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.