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Small Business CGT Concessions: Changes that matter

Published on 27 Feb 2007 | Took place at City West Function Centre, West Perth, Launceston Function Centre, The Rugby Club Downtown, Brisbane, The Holiday Inn Adelaide, Tattersalls, Sydney, Leonda by the Yarra, Hawthorn, Newcastle West , National

This National Roadshow was held in:
- Perth and Launceston on 8 February 2007
- Brisbane on 13 February 2007
- Adelaide on 20 February 2007
- Sydney on 21 February 2007
- Melbourne and Newcastle on 27 February 2007.

Legislation was introduced in Parliament on 7 December 2006 covering the Government’s plan to improve the Small Business CGT Concessions, as announced in the 2006 Federal Budget. The changes will make the concessions available to a range of clients who would not previously have qualified. These seminar materialas outline the changes to ensure you are able to advise your clients how to best take advantage of these important concessions.

Individual sessions

Small business CGT concessions: changes that matter

Author(s):  PKF

This paper covers the improvements to the Small Business CGT Concessions including:

  • replacing the current controlling individual 50% test with a new significant individual 20% test that can be satisfied either directly or indirectly through one or more interposed entities
  • simplifying the active asset test
  • improving the $5M net asset test
  • clarifying the application of the concessions in the event of death
  • improving access to the specific concessions.
Materials from this session: