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Small business CGT tips and traps

Published on 05 Mar 2014 | Took place at City West Receptions, West Perth, WA

The small business capital gains tax concessions are designed to provide generous tax concessions to eligible small business owners. Changes to the legislation over time have extended the scope of the concessions, enabling more people to access the concessions. Whilst aimed at small business owners, determining eligibility is anything but simple. Any errors in determining eligibility can leave clients (and their advisers) with a big tax headache.

With the ATO specifically targeting use of the concessions and recent Court decisions covering a number of interpretative aspects of the legislation, this session is designed to provide attendees with the tools necessary to highlight strategies and avoid the pitfalls when advising clients.

This evemt was ideal for members who advise small business owners and are keen to keep up-to-date with new legislation, cases and subsequent interpretation in the area of small business CGT concessions.

Individual sessions

Small business CGT concessions

Author(s):  Corey BEAT

This paper covers:

  • basic conditions for relief
  • small business CGT concepts
  • basic threshold tests
  • active asset
  • small business 15-Year exemption
  • small business active asset 50% reduction 
  • small business retirement exemption 
  • small business roll-over.
Materials from this session: