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 presentation 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 presentation 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.
Daniel Smedley CTA
Daniel is a Principal of Sladen Legal. He is a Law Institute of Victoria Accredited Specialist in Tax Law and holds a Master of Taxation. Daniel is the principal author of Trusts Structures Guide published by The Tax Institute and a regular presenter at industry conferences and workshops. Daniel primarily advises businesses and high net worth individuals in relation to business and investment structuring, trusts, succession planning and taxation law. Current at 04 March 2016
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