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CGT small business concessions paper

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 05 May 05 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The CGT small business concessions have now been with us for over five years, but continue to be difficult to apply in practice. This paper examines the different concessions, with a particular focus on the following aspects:

  • connected entities
  • small business CGT affiliates
  • $5m net asset test
  • active asset test
  • controlling individuals.

These issues are explained with the use of practical examples involving common business structures (including companies, partnerships and trusts).

Author profile

Paul Ingram CTA
Paul is a Partner at Minter Ellison and practises in all areas of taxation law, with a particular focus on CGT, business structures, GST and stamp duty. Paul is a member of the Institute's SA Technical Resource Committee, and represents that committee on RevenueSA's SA State Taxes Liaison Group. He is also a member of the Institute's national Not-for-profit Technical Committee, and previously represented that committee on the ATO's Not-for-Profit Advisory Group. He is also an active member of the Taxation Committee of the Law Council of Australia. - Current at 29 May 2019
Click here to expand/collapse more articles by Paul INGRAM.

 

This was presented at 39th South Australian State Convention: A Fine Blend - Barossa Valley .

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