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Small business CGT changes welcome.

Publication date: 04 Dec 07 | Source: CAPITAL GAINS TAX BULLETIN

Issue: No 3 2007

Pages: pp.66-67

Abstract:
On 22 October 2007, the Assistant Treasurer announced changes to the small business CGT concessions that are designed to improve access to the concessions for taxpayers who are using the $2m turnover test to access the concessions and hold assets (typically real property) in a separate entity to the entity that is carrying on the business.

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Author profile

Sean Neary FTI
Sean is founder of Neary Consulting, a boutique tax practice in West Perth. Sean focuses on addressing complex tax issues for small and medium enterprises, including referral work from other accounting practices. His practice covers ATO and OSR dispute resolution, business sales and restructures, small business CGT concessions, business sales and restructures, international tax, GST and Transfer Duty. Sean has a Bachelor of Economics, Masters of Tax Law and is both a CPA and Fellow of the Tax Institute. His work history includes roles in Deloitte, PwC, Dow Corning, PKF, Webb Martin and was founding Chairman of technology materials group Talga Resources Limited (ASX: TLG). - Current at 17 October 2019
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