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CGT small business concessions - selected issues paper

Published on 06 Oct 06 by VICTORIAN DIVISION, THE TAX INSTITUTE

In the recent Federal Budget changes arising from the Board of Taxation’s post implementation review of the small business CGT concessions were announced, together with a new significant stakeholder test. This paper re-examines the small business CGT concessions from a practical perspective, highlighting some of the proposed changes and considering the traps that practitioners must continue to monitor. The paper considers:

  • can a taxpayer’s structure result in a failure to satisfy the threshold tests?
  • is there an active asset?
  • what does need to be included in the maximum net asset value test?
  • how does the connection test operate?
  • what are the compliance traps?
  • what are the implications of choosing some concessions over others?
This was also presented by Ron Jorgensen on 21 Octobe 2006 at the Tasmanian State Convention.

Author profiles:

Daniel SMEDLEY
Current at 20 October 2010 Click here to expand/collapse more articles by Daniel SMEDLEY.
 
Ron JORGENSEN
Current at 15 June 2011 Click here to expand/collapse more articles by Ron JORGENSEN.

 

This was presented at 45th Victorian State Convention: Finding buried treasure .

Get a 20% discount when you buy all the items from this event.

Individual sessions



CGT Rollovers: restructuring for the top end

Author(s):  Richard CZERWIK,  Stephen CARPENTER

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International tax - there's treasure buried all over the world

Author(s):  Liam COLLINS

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Consolidation...unfinished business

Author(s):  Michelle DE NIESE

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The 'ins' and 'outs' of testamentary trusts

Author(s):  Bruce COOK

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Exploring new waters - emerging trust issues

Author(s):  Graeme HALPERIN

Materials from this session:


Further details about this event:

 

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