Published on 20 Nov 2008
| Took place at Sheraton Noose resort & Spa
This event was the 16th National Tax Intensive Retreat and was held 21-23 August and repeated 20-22 November 2008.
This event took a fresh look at selected
CGT issues of practical importance to practitioners and their clients.
Although CGT has been with us for over 20 years it still abounds in thorny issues
and traps for the unwary. There are also many opportunities for minimising CGT
through the use of rollovers and other concessions, but these concessions
themselves involve arcane rules that require careful analysis.
Get a 20% discount when you buy all the items from this event.
This paper explores two recent rounds of amendments to the CGT small business concessions which have applied from 1 July 2006 and 1 July 2007 respectively. These amendments have fundamentally altered the way the concessions work and have consequently impacted upon structuring issues and exit strategy planning issues for clients. This paper focuses on opportunities and issues, including:
the small business entity provisions and the benefits of carrying on a business (even in a small way)
the maximum net asset value test and the new (narrower) definitions of "affiliate" and "connected with"
selling shares or units and the need to carefully manage the distribution process through indirect ownership layers