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Division 152 - small business CGT concessions - some of the complexities explained paper

Published on 18 Mar 05 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper contains consideration of and case studies illustrating Div 152 including:

  • what is necessary to satisfy the basic conditions for relief
  • timing of the $5m net asset value tests
  • the excluded assets and the importance of superannuation
  • what are connected entities?
  • the ATO's views on the control of trusts
  • common pitfalls in the family business context.

This paper was also presented on 15 October 2005 by Chris Evans at the Tasmanian State Convention held in St Helens.

Author profile:

Susan Young
Susan has spent the last six years running her own business providing training on income tax, capital gains tax, GST and FBT issues. Previously she was the National Tax Director for a leading accounting firm. With over 20 years of specialised tax knowledge, Susan has extensive experience as a presenter and adviser on taxation issues. In 2003 Susan had a book published by Penguin titled Tax for the Very Small Business. She has also written tax training courses and articles for professional taxation publications. Susan has degrees in Commerce and Law from the University of QLD and the University of Sydney. Current at 15 November 2004 Click here to expand/collapse more articles by Susan YOUNG.
 

This was presented at 20th National Convention: Tax Unmasked.

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