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Small business CGT concessions presentation

Published on 24 May 07 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This presentation outlines the new small business CGT concessions, in particular:

  • what has changed post 1 July 2006?
  • are the concessions now better than before?
  • what shortcomings still exist in relation to the concessions?
  • what are the benefits of the significant individual test?
  • how many can access the concessions?
  • what are the additional conditions to be satisfied where an interposed entity sells shares in a subsidiary?
  • how do you manage the 90% test?
  • are the changes in the Exposure Draft going to impact these changes?
  • the manner in which the changes interact with the existing rules and identify intended and perhaps unintended costs and benefits
  • how the change to the definition of active asset impacts the future sale of assets used in past businesses
  • how the changes impact the application of the maximum net asset value test and the concept of the connected entity
  • the complications that arise for structures that have a discretionary trust
  • the impact for partnerships.

Author profile:

Author Photo - Spyros Kotsopoulos CTA
Spyros Kotsopoulos CTA
Spyros is a Tax Consulting Partner at Deloitte Touche Tohmatsu in Sydney. Spyros is involved with clients in the middle market area that have a focus on using e-commerce in their business. The emphasis of Spyros’s work is on tax structuring and strategic tax planning. This involves taking a proactive approach when assisting clients who are seeking to expand their activities offshore and take advantage of the new opportunities offered via the internet. Current at 02 June 2014 Click here to expand/collapse more articles by Spyros KOTSOPOULOS.
 

This was presented at Manoeuvring the Maze: Tax Forum.

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