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Small Business CGT Masterclass

Published on 30 Jul 2014 | Took place at Williams Rd North, Toorak , VIC

Taxpayers can literally save millions of dollars in tax by applying the small business CGT concessions. However, the concessions are extremely complex and one mistake can mean missing out altogether.

This event alerted participants to the danger areas, identifed planning opportunities and provided practical strategies for obtaining the most out of the concessions. Some of the more difficult issues were examined and the ATO provided commentary.

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

Individual sessions

Maximum net asset value test

Author(s):  Philip BENDER

This paper covers:

  • maximum net asset value test - timing issues
  • what is a liability for the purposes of the MNAV test?
  • liabilities of the entity that are related to the CGT assets
  • net value of CGT assets is calculated on an entity by entity basis
  • market value of CGT assets
  • evidentiary issues.
Materials from this session:

Active asset test, connected entities and affiliates

Author(s):  Evan Beissel,  Eugene BERKOVIC

This paper covers:

  • definition of active asset – what type of assets will qualify for small business relief
  • can assets deriving rental income ever be considered active assets?
  • how “active” is active?
  • when will entities be connected?
Materials from this session:

Applying the concessions

Author(s):  Joanna MONAHAN

This paper covers:

  • CGT concession stakeholders and significant individuals – the gateway to accessing the concessions where assets are held by trusts or companies
  • small business 15-year exemption – subdivision 152-B of the ITAA97
  • small business 50% reduction – subdivision 152-C of the ITAA97
  • small business rollover – subdivision 152-E of the ITAA97
  • other important issues.
Materials from this session: