CGT and small business concessions : why the
23 Nov 07 |
WEEKLY TAX BULLETIN
Issue: No 49 2007
Whether it was the intention of the legislative drafters to allow shares held by nominee entities to qualify for the CGT small business concessions is not clear. In any event, it would seem inappropriate to deny the concessions that are aimed at benefiting taxpayers merely because a standard nominee holding structure is adopted. In which case, it raises the question of why the "legal and beneficial" ownership requirement for shares exists in the first place?
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